The Securities and Exchange Commission (SEC) adopted a final rule as mandated by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DoddFrank Act) to require publicly-held companies, or issuers, to publicly disclose their use of conflict minerals that originate from the Democratic Republic of the Congo (DRC) or an adjoining country. The first step in risk assessment for this directive is to determine if your products contain any of the 3TG elements. Screening for the presence of 3TG elements with High Definition X-Ray Fluorescence (HDXRF®) is fast, precise, and requires minimal training.
Who is required to comply with the section 1502 disclosure regulation?
A company is required to comply with section 1502 of the Dodd-Frank Act and file a conflict minerals report to the SEC if all of the following criteria are met:
What materials are subject to the 1502 regulation and where could these elements be found in consumer products?
When did this regulation take effect?
The first annual disclosure report was due to the SEC by May 31, 2014 and should cover all products manufactured during the 2013 calendar year.
Why was this regulation put into place?
Most elemental regulatory directives are put in place to protect consumers from exposure to potentially hazardous heavy elements. This particular regulation was brought about to protect the people living in regions where Tin, Tungsten, Tantalum, and Gold are often sourced. The mining of these minerals from the DRC and adjoining regions are often led by violent and abusive armed groups and the Dodd Frank Act is an effort to stop funding of this humanitarian crisis.