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SEC formally suspends enforcement of part of the ‘conflict mineral’ rule

Post By: Steven Peterson on Monday, 10 April 2017

Mike Piwowar, the Acting Chairman of the U.S. Securities and Exchange Commission (SEC) released a statement on the 7th April 2017 (click here) in reaction to the final US Court decision a few days earlier confirming the view that public disclosure of 'conflict' or 'not conflict' products would violate the first amendment of the US constitution. The statement explained that "Until these issues are resolved, it is difficult to conceive of a circumstance that would counsel in favor of enforcing Item 1.01(c) of...

Final US court judgement against ‘conflict mineral’ declarations

Post By: Steven Peterson on Monday, 10 April 2017

On 3rd April 2017, a district court judge in Washington, DC determined the final judgement in the last stage of the long-running case brought by the National Association of Manufacturers against the Securities and Exchange Commission (SEC). The final judgement was in agreement with the earlier decision of 2014 that the requirement to disclose whether a product is "DRC-conflict free" violates the constitution, on the grounds that it is compelled speech. This brings to an end this particular debate...

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