On August 22, 2012 the SEC issued a final rule on conflict minerals pursuant to Dodd-Frank Section 1502. The rule describes the due diligence and reporting requirements for issuers whose products contain conflict minerals. In addition, private companies within issuers' supply chains are likely to feel the pressures of reporting and due diligence as well.
What does this mean to you? Many companies have done little to prepare for compliance. Join us on Thursday, June 27, 2013, from 2:00pm – 3:00pm ET,
as PwC panelists from our Retail & Consumer practice lead a discussion addressing the rule and what companies should be doing now.
We'll discuss the plan the SEC put forth for implementing the conflict minerals rule as well as how, under this rule, companies will be required to:
- Determine whether their products contain conflict minerals; and if so,
- Perform ‘reasonable’ due diligence to determine the country of origin of their conflict minerals,
- Report on the measures they have taken to exercise due diligence on the source and chain of custody of the minerals by filing a new form (Form SD) with the SEC annually; and in some cases,
- Subject these procedures to an audit and file a Conflict Minerals Report that includes the audit opinion
Significant operational changes may be required. Sourcing and Supply Chain, Regulatory, Compliance and Financial functions are likely impacted by the regulation. We invite you to join us in order to further your understanding of this rule and how it will affect your organization. Meanwhile, PwC has a website dedicated to the conflict minerals rule, and we invite you to visit the site and view or download the resources that are available. To access the site, please click the following link: http://www.pwc.com/us/conflictminerals