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Dodd-Frank Wall Street Reform and Consumer Protection Act (includes 2012 conflict minerals rule)

United States of America Current 2010

The Act sets out specialized disclosure provisions, in 2012 the SEC finalized the rule, Section 1502, which requires some annual report issuers to disclose their connections with conflict minerals, and whether those minerals originated in the Democratic Republic of Congo or adjoining countries. The rule requires a report that includes a description of the measures taken to exercise due diligence, and which must be independently audited and certified.

Issuer name

Securities and Exchange Commission

Government ministry

Finance/Treasury

More information

Passed by US Congress, the rules are to be adopted by the US Securities & Exchange Commission and other federal agencies. The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into federal law in 2010, with implementation rules being adopted since that time. The Act made significant changes to existing US financial regulation. Among other practices, issuers subject to the rule will conduct an assessment of their supply chain activities to determine the source of their conflict minerals. Section 1504 which requires annual report issuers that commercially develop oil, natural gas, or minerals to disclose certain payments made to the US or a foreign government. The information must be provided in an interactive format, and the Securities & Exchange Commission must compile the information online.

Organizations covered by the instrument

Large private and listed companies

Industry scope

All/none specified

Disclosure venue

Annual report

ESG coverage- S (Social)

All

ESG coverage- G (Governance)

Ethics & Integrity

Status

Current

Country

United States of America

Region

North America

Date of publication

2010

Issuer type

Financial Market Regulators

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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