Dodd-Frank Section 1502: Conflict minerals
On August 22, 2012, the SEC issued a final rule on conflict minerals pursuant to Dodd-Frank Section 1502. The rule describes the assessment and reporting requirements for issuers whose products contain conflict minerals. These minerals – tin, tantalum, tungsten and gold – are used in a wide range of products across numerous industries.
Some estimates suggest that at least half of all SEC issuers will be impacted by this rule. In addition, a large number of private companies within issuers' supply chains are likely to feel the pressures of reporting and due diligence as well.
PwC can help companies at every stage of their conflict minerals compliance efforts, including:
- Assess: Evaluate the design, implementation or operation of an organization’s conflict minerals program against the requirements of Dodd-Frank 1502, OECD frameworks and leading practices.
- Program planning: Jump-start conflict minerals compliance by scoping program requirements and defining a roadmap with details such as key steps, resource requirements, and timing.
- Design & build: Perform detailed design and development of a company’s conflict minerals program. A pilot program may be used as part of this stage to refine approach.
- Implement & operate: Implement and operate the conflict minerals program, including management and administration of the supplier reasonable country of origin inquiry (RCOI) and due diligence processes (with appropriate management oversight).
- Audit: Provide an independent performance audit or attestation audit over the design and execution of the conflict minerals due diligence, either for an SEC registrant or for other organizations to provide to their customers.
Conflict minerals resources
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Video: Conflict mineralsWatch a segment from The quarter close video perspectives, as panelists discuss the new conflict minerals rule. |
Webcasts
Conflict minerals: An auditor’s perspective
April 9, 2013
3:00 – 4:30 PM ET
View the archived webcast
Conflict minerals: What does Dodd-Frank Section 1502 mean for you?
September 11, 2012
2:00 - 3:00 PM ET
View the archived webcast
Publications
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10Minutes on conflict minerals — May 2013 10Minutes on conflict minerals provides insight into the strategic benefits and risks companies will want to focus on as they comply with the SEC's conflict minerals rule. The rule is effective for 2013 calendar year operations, so regardless of whether companies view conflict minerals as a supply chain opportunity, risk to their brand or another regulatory to-do, they should act now to prepare. |
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Conflict minerals: Time to get started — May 2013 This article outlines steps companies can take to initiate their conflict minerals compliance efforts, components of an effective program, and our observations on key success factors. |
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Dataline: SEC adopts conflict minerals rule — September 2012 This publication provides more detail regarding the SEC’s final rule, how issuers can determine whether they are subject to its requirements, and what they need to do. It examines supply chain implications as well as the required annual disclosures. New supplement: Frequently asked questions on conflict minerals |
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Golden Opportunity: Building an industry commitment to conflict-free gold production — October 2012 Two new reports that can be used by companies implementing the Conflict-Free Gold Standard to consider how their approach aligns with the OECD Due Diligence Guidance, and by stakeholders with an interest in this area. |
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(For directors) To the point: The conflict minerals rule is now final — Fall 2012 Directors should understand what the SEC's rule entails and discuss with management whether and how their company is affected. |
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In brief: SEC adopts rule for disclosing use of conflict minerals — August 2012 This brief publication summarizes the SEC’s rule, its provisions, implementation plans and how companies can respond. |
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To the point: Current issues for boards of directors — June 2011 The second article in this quarterly publication summarizes the SEC’s original proposed rule and offers suggestions for directors. |
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A Closer Look: The Dodd-Frank Wall Street Reform and Consumer Protection Act - Impact on Disclosures Related to the Use of “Conflict Minerals — April 2011 This issue in the A Closer Look series presents an overview of the regulation and how it will impact company reporting procedures. |
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