SEC's Toned-Down Conflict Mineral Rule Still Faces A Fight
Law360, New York (August 22, 2012, 5:47 PM EDT) -- Before adopting long-awaited reporting requirements for companies using so-called conflict minerals Wednesday, the U.S. Securities and Exchange Commission tried to reduce and justify the significant costs associated with the new rule, but experts don't expect the agency's efforts to dissuade business groups from lodging a legal challenge.
The new rule, passed by a 3-2 vote, requires public companies to report to the SEC each year whether they use minerals that directly or indirectly fund violence in the Democratic Republic of the Congo, where millions have been killed, and the efforts taken by the companies to determine the origin of the minerals...
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