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On March 16, 2017, IPC filed comments with the Securities and Exchange Commission (SEC) asking the SEC to consider modifications of the rule and Section 1502 to reduce the burden on U.S. manufacturing industries. The comments were filed in response to Acting SEC Chairman Michael S. Piwowar’s January 31, 2017 statement, questioning the effects of the regulation, including the negative impacts of a de-facto boycott.
IPC comments acknowledge that the human rights situation in the Democratic Republic of Congo (DRC) and surrounding region remain a significant concern, but question the extent to which the sale of conflict minerals contributes to it.
The comments ask the SEC and Congress to reconsider Dodd-Frank and, at a minimum, adopt burden-reducing measures such as de minimis thresholds and harmonization with EU regulations, which are only mandatory for smelters and importers.
For more information, contact Fern Abrams, IPC director of regulatory affairs at FernAbrams@ipc.org.