Conflict Minerals: Conflict Minerals Rule Relax Sets ‘Dangerous Precedent': Senators

Apr 27, 2017 | Andrea Vittorio, Bloomberg
View Original

One of the architects behind a corporate disclosure rule meant to help keep minerals that fund conflict in Africa out of computer chips, jewelry and other products is pushing back against the Securities and Exchange Commission’s moves to relax it. Sen. Richard Durbin (D-Ill.), who co-sponsored the conflict minerals legislation that eventually became part of the Dodd-Frank Act, joined five other Democratic senators in calling out the “dangerous precedent” set earlier this month when the SEC’s acting chairman said companies that only provide basic disclosures on where they think the minerals in their products come from won’t get into trouble.