This publication highlights the webcast held on Sept. 5, 2012, by KPMG and King & Spalding. The webcast covered the final rule that was passed on Aug. 22, 2012. KPMG discussed the changes from the proposed rule to the final rule and the compliance requirements associated with the rule.
On Aug. 22, the Securities and Exchange Commission (SEC) voted to adopt a final rule regarding disclosure and reporting obligations with respect to the use of so-called “conflict minerals” (tin, tantalum, tungsten and gold, commonly referred to as “3TG”) under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act).
Publicly traded companies in a variety of industries— electronics, aerospace, automotive, industrial machinery, healthcare devices, jewelry, diversified industrials and consumer goods—that use conflict minerals in their products or manufacturing processes face a new specialized disclosure requirement as a result of Section 1502 of the Act.