Section 1502 Of The Dodd Frank Act

The dodd frank act section 1502 part of the u s.

Section 1502 of the dodd frank act. Section 1502 requires persons to disclose annually whether any conflict minerals that are necessary to the functionality or production of a product of the person as defined in the provision originated in the. Implementation of dodd frank act. The united states should pursue what ambassador nikki haley has started at the united nations security council.

For over a decade the trade in conflict minerals has fueled human rights abuses and promoted insecurity in eastern democratic republic of the congo drc. It is in the interest of companies to begin efforts to understand and know the extent of their supply chains even if 3tgs are not present. Interactive data and xbrl initiative.

Government s dodd frank wall street reform and consumer protection act signed into law in july 2010 requires publicly traded companies to ensure that the raw materials they use to make their products are not tied to the conflict in congo by tracing and auditing their mineral supply chains. This law should be discontinued. Section 1502 of the act amends the securities and exchange act of 1934 to add section 13 p.

Demand greater accountability of the un peacekeeping mission along. The company files reports with the sec under the exchange act. The final rule applies to a company that uses minerals including tantalum tin gold or tungsten if.

As it now stands dodd frank section 1502 launders legalizes and certifies the looting of congolese resources a net loss for drc. But the views and opinions of local eye witnesses who live in the countries covered by the law are often overlooked or missing from the discussions. Section 1502 of the dodd frank act known as the conflict minerals rule has been under unprecedented scrutiny.

The dodd frank wall street reform and consumer protection act passed by the us congress in july 2010 includes a provision section 1502 aimed at stopping the national army and rebel groups in the drc from illegally using profits. The sec has completed section count of section number. Title xv of the dodd frank wall street reform and consumer protection act contains several specialized disclosure provisions.