Acting SEC Chairman Halts Enforcement of Conflict Minerals Rule Citing IPC Comments


Reading time ( words)

Acting U.S. Securities and Exchange Commission (SEC) Chairman Mike Piwowar said in an April 7, 2017 statement that the SEC is suspending enforcement of the costliest requirements of its conflict minerals rule.

The statement came following an April 3, 2017 U.S. District Court decision remanding the rule back to the SEC to address First Amendment violations. "Until these issues are resolved, it is difficult to conceive of a circumstance that would counsel in favor of enforcing Item 1.01(c) of Form SD," Piwowar said in a statement [Item 1.01(c) contains the due diligence requirements].

Piowar's statement referenced the costs of conducting due diligence inquiries, citing several sources including a March 16 letter from IPC.

Piwowar added that companies will not be required to conduct a due diligence review or an audit, which are both part of the process used to determine the origin of the minerals. However, companies will still need to furnish reports and do origin inquiries, as they have been doing.

Share

Print


Suggested Items

Meet Ray Prasad, SMT007 Columnist

11/01/2019 | I-Connect007 Editorial Team
Meet Ray Prasad, one of our SMT007 columnists! Prasad’s columns explore DFM, manufacturing processes, yield improvement, quality control, IPC standards, and much more.

The Ecosystem of Industry Standards

10/30/2019 | I-Connect007 Editorial Team
I-Connect007 reached out to representatives from several industry standards organizations and talked with them about how they participate in the standards process. Along the way, these conversations clarify which group does what, how they all work together as well as clarify and dispel a couple of industry myths.

Juan Arango on Koh Young’s New U.S. Headquarters

10/27/2019 | Andy Shaughnessy, I-Connect007
At a recent open house, Managing Director Juan Arango talks about his role in the company’s transition from their Arizona facility to a new headquarters located outside of Atlanta, Georgia. Juan details many of the benefits customers can expect, including brand new spaces dedicated to customer demos as well as training.



Copyright © 2019 I-Connect007. All rights reserved.