The examples and perspective in this article may not represent a worldwide view of the subject. September 8, The media often called these ' blood diamonds '. The Rule The final rule applies to a company that uses minerals including tantalum, tin, gold or tungsten if: The company files reports with the SEC under the Exchange Act. Archived from the original on December 16, December 23, Who We Are.
"Most Companies Falling Behind in Conflict Minerals Due Diligence" List of compliant smelters & reporting tproemplate for Dodd-Frank Act rule. Conflict resources are natural resources extracted in a conflict zone and sold to perpetuate the For example, in the United States, the Dodd–Frank Wall Street Reform and Consumer Protection Act required manufacturers Under the US Conflict Minerals Law, additional minerals may be added to this list in the future.
With the repeal of the Dodd-Frank Act () imminent, I thought it was Support for conflict minerals legislation also comes from further afield.
The New York Times.
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Conflict Minerals. As expected, S emiconductor companies lead the list, along with other manufacturing type companies.
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|Identify the auditor.
November 3, Archived from the original on In other projects Wikimedia Commons.
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An Initial Look at Conflict Minerals & Dodd Frank Section Audit Analytics
ECD's conflict mineral policy and statement of conformance Design, Inc. (ECD) does conform to the Dodd-Frank conflict minerals act section A list of the materials with unknown origin will be supplied to ECD in order for follow up.
The SEC rule did not go unnoticed by the international community, including entities seeking to undermine traceability efforts.
Archived from the original on October 2, However, the mere transfer of responsibilities upstream in the supply chain apparently will not stop the trade with conflict minerals, notably due to two reasons:. Retrieved Many comments to the proposed regulation asked SEC to clarify whether the report must be "furnished"—meaning it is made available to SEC but not directly incorporated within the company's formal financial report—or "submitted"—meaning the report is directly incorporated into the financial report.
The National Law Review.
InCongress legislated Section of the Dodd Frank Act, a list of 1, suppliers and smelters from which their conflict minerals are. The regulation aims to stem trade in minerals which finance armed conflict or are mined of the Dodd-Frank Wall Street Reform and Consumer Act of a list of conflict-affected and high-risk areas, which it will regularly update.
Various industry and trade associations are also monitoring developments in conflict minerals laws and traceability frameworks.
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State Dept Officials asserted that ultimately, it falls on the U. This language implied that some retailers who are not manufacturers might be subject to the audit and disclosure requirements.
The concept of 'conflict resource', or 'conflict commodity ' emerged in the late s, initially in relation to the ' conflict diamonds ' that were financing rebellions in Angola and Sierra Leone. Retrieved 18 May
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|Moreover, due diligence focuses on a maximum of transparency as an end itself while risk management is always directed towards the end of averting direct damages.
The country of origin of the conflict minerals in those products. The proposed regulations attempted to clarify that tools used in assembly and manufacturing will not trigger the law. In the context of mineral supply chains, due diligence represents a holistic concept that aims at providing a chain of custody tracking from mine to export at country level, regional tracking of mineral flows through the creation of a database on their purchases, independent audits on all actors in the supply chain, and a monitoring of the whole mineral chain by a mineral chain auditor.
A major research report from November by the Southern Africa Resource Watch revealed that gold miners in the east of the Democratic Republic of Congo were being exploited by corrupt government officials, bureaucrats and security personnel, who all demand illegal tax, fees and levies from the miners without delivering any services in return. Archived from the original on October 2, POSTNov.