Conflict Minerals Rule and Pay Ratio Rule… Are Changes Forthcoming?

Conflict Minerals Rule Acting SEC Chairman Michael S. Piwowar issued a statement[1] on January 31, 2017 directing the SEC staff to reconsider whether the 2014 Guidance is still appropriate and whether any additional relief is appropriate. The statement also included a 45-day public comment period. In addition, there has been a leaked draft executive order … Continue reading “Conflict Minerals Rule and Pay Ratio Rule… Are Changes Forthcoming?”

SEC Issues Partial Stay of Conflict Minerals Rule

On Friday, the SEC issued an official order staying the effective date for compliance with the portions of the conflict mineral rules that would require issuers to make statements that the United States Court of Appeals for the District of Columbia held would violate the First Amendment.  This order does not provide companies with additional … Continue reading “SEC Issues Partial Stay of Conflict Minerals Rule”

SEC Issues Statement Regarding the Status of the Conflict Minerals Rule

Today the SEC issued a Statement on the Effect of the Recent Court of Appeals Decision on the Conflict Minerals Rule.   (See our earlier blogs regarding the conflict minerals rule and the legal challenge thereto).  Form SD did not go away and compliance with the conflict minerals rule was not stayed. The SEC tried to reach … Continue reading “SEC Issues Statement Regarding the Status of the Conflict Minerals Rule”

Conflict Minerals Rules…What Action will the SEC Take?

The recent opinion by the United States Court of Appeals for the District of Columbia has ignited much debate in the legal community as to what action the SEC will or should take in response.  Today, SEC Commissioners Daniel M. Gallagher and Michael S. Piwowar issued a Joint Statement on the Conflict Minerals Decision in … Continue reading “Conflict Minerals Rules…What Action will the SEC Take?”

Conflict Minerals…the Legal Saga Continues…

Yesterday, the United States Court of Appeals for the District of Columbia issued its opinion on the conflict minerals legal challenge. (See our earlier blogs regarding the conflict minerals rules and the legal challenge thereto). The ruling rejected a number of the petitioner’s arguments, but agreed with the petitioner’s first amendment challenge. Specifically, the court … Continue reading “Conflict Minerals…the Legal Saga Continues…”

New Conflict Minerals FAQs

I know that many companies are working through their conflict minerals analysis and have begun preparing their initial Form SD which is due June 2nd.  I wanted to make companies aware that the SEC issued new FAQs today clarifying various issues related to conflict minerals due diligence and the conflict minerals report.  Please see the … Continue reading “New Conflict Minerals FAQs”

Update- The Conflict Minerals Legal Challenge Continues

In July, the United States District Court for the District of Columbia rejected a summary judgment motion challenging the SEC’s conflict minerals rules. Accordingly, the conflict minerals rules remain in effect as adopted.  However, the legal challenge continues as the National Association of Manufacturers and other business interests recently filed a notice of intent to appeal this district … Continue reading “Update- The Conflict Minerals Legal Challenge Continues”

Conflict Minerals Rules Survive Legal Challenge

Yesterday, the United States District Court for the District of Columbia rejected a summary judgment motion challenging the SEC’s conflict minerals rules.  (See our May/June 2013 issue of Up to Date which discussed the legal challenge to the conflict minerals rules.)  Accordingly, the conflict minerals rules remain in effect as adopted.   The conflict minerals rules require all … Continue reading “Conflict Minerals Rules Survive Legal Challenge”

Digging Deeper – SEC Issues FAQs Regarding the Conflict Minerals Rule

Earlier today, the staff of the SEC issued long-awaited FAQs  related to the conflict mineral rules.  The FAQs provide guidance on various aspects of the conflict mineral rules including the following: The conflict mineral rules apply to all issuers that file reports with the SEC under Exchange Act Sections 13(a) or 15(d), whether or not … Continue reading “Digging Deeper – SEC Issues FAQs Regarding the Conflict Minerals Rule”

Last Minute Summer Reading Alert! SEC Adopts Rules Regarding Conflict Minerals and Resource Extraction Payments

           If you were concerned that you had finished all your summer reading with time to spare, worry no more.  The SEC has adopted a total of 588 pages of final rules regarding disclosures of the use of conflict minerals and payments by resource extraction issuers.           The new rules were adopted on August 22, … Continue reading “Last Minute Summer Reading Alert! SEC Adopts Rules Regarding Conflict Minerals and Resource Extraction Payments”