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Conflicts Minerals Ruling Doesn't Mean Companies Are Off the Hook

Joe Mont | April 22, 2014

The timing of a recent court decision rejecting part of an SEC rule on conflict minerals disclosures could not have been worse. Many companies were already straining to meet the June 2 deadline, and now the court ruling has added another layer of confusion and uncertainty.

Will regulators give companies an extension as they sort out the legal questions the ruling raises? Should companies stay the course and complete the filings as they had planned to? A week after the court invalidated a portion of the rule, the SEC has yet to provide any guidance on how companies should proceed with the impending filing deadline.  

The SEC rule applies to the mining of tin, tungsten, tantalum, and gold in war-torn Central Africa that is considered a source of funding for militant groups. A ruling by the U.S. Court of Appeals for the District of Columbia Circuit earlier this month said the plaintiffs were correct to claim that disclosing the fact their products may contain conflict...

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