ABSTRACT

SEC Conflict Minerals Rule: 2017 Review of Company Disclosures in Response to the U.S. Securities and Exchange Commission Rule   [open pdf - 1MB]

"The exploitation of the mining and trade of 'conflict minerals'--in particular, tin, tungsten, tantalum, and gold from the eastern region of the Democratic Republic of the Congo (DRC)--has contributed to the displacement of people and severe human rights abuses. Section 1502 of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which addresses the exploitation of conflict minerals, required several U.S. agencies, including the Securities and Exchange Commission (SEC), to take certain actions to implement its conflict minerals provisions. The Dodd-Frank Act required SEC, in consultation with the Department of State (State), to promulgate disclosure and reporting regulations regarding the use of conflict minerals from the DRC and adjoining countries (which this report refers to as 'covered countries'). SEC adopted a conflict minerals disclosure rule in August 2012 and published the adopting release in the Federal Register in September 2012. In addition, the Dodd-Frank Act included a provision for GAO [Government Accountability Office] to report, beginning in 2012 and annually thereafter, on the effectiveness of the SEC rule in promoting peace and security in the DRC and adjoining countries, among other things. In this report, we examine companies' disclosures filed with SEC in 2016, compared with disclosures filed in the prior 2 years. To examine company disclosures filed with SEC in 2016 in response to the conflict minerals disclosure rule, we reviewed specialized disclosure reports--Form SD--and related documentation publicly available from the SEC's Electronic Data Gathering, Analysis, and Retrieval (EDGAR) database."

Report Number:
GAO-17-517R
Publisher:
Date:
2017-04-26
Copyright:
Public Domain
Retrieved From:
Government Accountability Office: http://www.gao.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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