Enough Project Responds with Serious Concerns about SEC Statements on Conflict Minerals

Apr 12, 2017 | Enough Project
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The Enough Project takes serious issue with recent statements by Securities and Exchange Commission (SEC) Acting Chairman Michael Piwowar and the SEC Division of Corporate Finance regarding the SEC's Conflict Minerals Rule. The statements are in strong contradiction to recent public comments submitted to the SEC and appear to be highly irregular. 

On April 7th, Commissioner Piwowar cast doubt on his commitment to enforce the core reporting requirements in the SEC Conflict Minerals Rule, as part of Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The SEC Corporate Finance Division then released a statement recommending non-enforcement of the requirement in the Rule for companies to report on their due diligence. Non-enforcement of this component would effectively nullify the value of the due diligence reporting requirement enshrined in the Rule.