SEC Sets Long-Awaited Vote On Conflict Minerals Rule

Law360, New York (July 2, 2012, 6:05 PM EDT) -- The U.S. Securities and Exchange Commission will vote next month on controversial rules requiring heightened reporting for companies using conflict minerals mined in the Democratic Republic of Congo, rules industry groups say could cost manufacturers upward of $16 billion.

The SEC will meet Aug. 22 to consider the proposed rules, the agency announced Monday. Introduced in December 2010 by the SEC, the rules mandated by the Dodd-Frank financial reform would require companies to report to the SEC each year whether they use so-called conflict minerals —...
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