Leverage the largest electronic component database, awardwinning expertise and proven software tools to identify the origins of conflict metals such as tin, tantalum, tungsten and gold. Apr 11, 2017 the announcement the sec would no longer enforce the conflict minerals reporting rule of the dodd frank act centers around the role of the agency in business. S have to disclose regarding their use of conflict minerals in their products, primarily whether it originates in or near the democratic republic. Compliance map offers solutions to educate your suppliers.
This dodd frank conflict minerals training course covers the fundamentals of the conflict minerals rule, as it applies in light of the april 2014 court ruling that struck down portions of the rule. Key compliance checks such as sanity check, crossreferencing between 3tg and smelter details are completed within minutes. Division of corporation finance conflict minerals disclosure a small entity compliance guide 1 introduction. In 2010, congress passed the doddfrank act, which directs the commission to issue rules requiring certain companies to disclose their use of conflict minerals if those minerals are necessary to the functionality or production of a product manufactured by those companies. Conflict minerals awareness data and analysis ihs markit. So if anyone asks you if you are impacted by doddfranks conflict minerals regulation, you can accurately say, yes. To help mitigate violence in the congo, the us congress has passed legislation which is designed to force companies to disclose whether or not their products contain conflict minerals. Trump threatened to suspend the conflict minerals provision of dodd frank. The software not only saves significant time and cost but also greatly improves the accuracy of the data.
The dodd frank sec conflict minerals legislation requires companies to comprehend and subsequently disclose the use of minerals 3tg in conflict areas. Efficiently manage conflict minerals compliance and transparency with an easytouse. Jun 19, 20 the unitedstates dodd frank wall street reform and consumer protection act the dodd frank act, section 1502 on conflict minerals formerly known as the congo conflict minerals act, which. To this end, companies should begin immediately to structure their.
The report must describe the measures taken to exercise due diligence, and it must include an external audit of the conflict minerals report that has been conducted in accordance with standards established by the comptroller general of the united states. Conflict minerals compliance tools the united states dodd frank wall street consumer protection act, section 1502 dodd frank act, as well as the regulation eu 2017 821 of the european parliament and of the council eu regulation require companies to map their supply chains, identify, assess and mitigate risks as well as report publicly. Meet customer and dodd frank conflict minerals policy requirements. Securities and exchange commission sec approved a final rule section 1502 of the dodd frank wall street reform and consumer protection act requiring certain issuers to publicly disclose their use of conflict minerals 3tg tantalum, tin, tungsten and gold and cobalt and if those minerals originated in the. We can help you comply with the dodd frank conflict minerals regulation and. Conflict minerals compliance source intelligence cmrts.
On august 22, 2012, the securities and exchange commission sec adopted a new rule and form, as mandated by section 1502 of the doddfrank wall street reform and consumer protection act doddfrank act, to require companies to publicly disclose their use of conflict. Aug 22, 2012 disclosing the use of conflict minerals background. It helps companies collect, validate and analyze the conflict minerals information from their suppliers. Conflict minerals compliance tracking progam actio. These solutions meet current datacollection, storage, and reporting requirements. Let our experienced conflict minerals team help you. The united states doddfrank wall street consumer protection act, section 1502 doddfrank act, as well as the regulation eu 2017 821 of the. Actio now provides all this protection and functionality in one groundbreaking, award. As a result of rules published in january 2012 by the commodity futures trading commission cftc, oati announced a number of solutions created in response to the new requirements outlined in the dodd frank act. Meet customer and doddfrank conflict minerals policy requirements.
Some, such as ipg photonics, are going further by creating policies promising that their companies will not knowingly use any metals from sources in or near. This doddfrank conflict minerals training course covers the fundamentals of the conflict minerals rule, as it applies in light of the april 2014 court ruling that struck down portions of the rule. Men carry bags of tin ore, coltan, which is used in mobile telephones and. Statement concerning implementation of section 1502 of the dodd frank legislation concerning conflict minerals due diligence the department holds that it is critical that companies begin now to perform meaningful due diligence with respect to conflict minerals. Section 1502 of the doddfrank wall street reform and consumer protection act, and the securities and exchange commission rules adopted in connection therewith, require certain corporations to report the use of conflict minerals in the manufacture of their products.
Conflict minerals management see a demo mandated by dodd frank and the consumer protection act, and adopted by the u. Ecd does conform to the dodd frank conflict minerals act section 1502. While the financial and capital provision are getting the headlines in the finance boardrooms. See the tips for dodd frank 1502 compliance sidebar for more details. Section 1502 of the us doddfrank act requires companies to disclose. Securities and exchange commission sec issued final rules for compliance with section 1502 of the dodd frank act, and outlined what publicly traded companies in the u. Apas cmcs is an automation software that simplifies the conflict minerals reporting process. Turning to software to identify conflict minerals in the. Conflict minerals compliance software ipointsystems. Securities and exchange commission sec adopted rules to implement reporting and disclosure requirements related to conflict minerals, as directed by the dodd frank wall street reform and consumer protection act of 2010. We offer suitable licenses depending on your companys size and reporting requirements. Conflict minerals program responsible sourcing and complying with dodd frank act. Over 300,000 companies around the world trust source intelligence to exchange information, roll up data for their customers, run due diligence programs for compliance requirements, and much more source intelligence is where compliance happens.
So, while the outofpocket costs have been lower than expected, the burden of compliance on inhouse resources should not be underestimated. The rmis downstream audit program is designed for companies that seek validation of. Actios conflict minerals tracking program provides compliance, audit and. The compliance software and data management solution automates supply chain. Pec modules conflict minerals compliance software why choose us the dodd frank sec conflict minerals legislation requires companies to comprehend and subsequently disclose the use of minerals 3tg in conflict areas such as the drc in order to protect human rights in the supply chain. Paper a business case for conflict minerals compliance software automation. Conflict minerals program responsible sourcing and complying. The relevant rule is included in section 1502 of the dodd frank wall street reform and consumer protection act. Us doddfrank act section 1502 known as the conflict minerals rule many. With the second filing period nearing its close for conflict minerals compliance under us doddfrank act section 1502 known as the conflict minerals rule many businesses have become aware that their current system for tracking substances and smelters is not working. Conflict minerals gain your declarations in an easy. Csrware uses a standardized approach for collecting key data from suppliers to analyze risk, increase response rates, prepare for audits and generate reports for form sd, cmr conflict minerals report and company reports. Conflict minerals doddfrank act conax technologies.
Assent compliance, conflict mineral compliance, conflict mineral services, conflict mineral software, conflict minerals, news february, 2017 on february 8, 2017, ukbased the guardian newspaper released what they allege to be a leaked draft of a presidential memorandum detailing a possible. Conflict mineral compliance, conflict mineral consulting, conflict mineral services, conflict mineral software, conflict minerals august 20, 2012 in 2 days from now the sec will hold a vote on the final rules for the conflict mineral provisions in the dodd frank act. Jul 14, 2015 under the dodd frank act, public companies in the us now must report to the securities exchange commission sec their use of socalled conflict minerals, in an attempt to weed out illicit trade of the minerals that produce tin, tungsten, tantalum, and gold and which funds warlords in the democ. Conflict minerals program responsible sourcing and. In recent years, conflict minerals have gained the attention of consumers, politicians, and major companies. Securities and exchange commission sec adopted rule p1 to implement reporting and disclosure requirements related to conflict minerals as directed by the doddfrank wall street reform and consumer protection act of 2010 doddfrank act. Dodd frank conflict mineral policy ecds conflict mineral policy and statement of conformance. The dodd frank wall street reform and consumer protection act of 2010 is the most sweeping change to the financial industry since the great depression. Securities and exchange commission sec adopted final rules to implement reporting and disclosure requirements related to conflict minerals, as directed by the doddfrank wall street reform and consumer protection act of 2010.
Conflict minerals special disclosure report cummins inc. Under the act, those minerals include tin, tantalum, gold and tungsten originated from the democratic republic of the congo drc and its neighboring states. Suppliersoft provides a comprehensive outofbox conflict minerals management solution that enables companies to comply with conflict minerals reporting requirement as per section 1502 of the dodd frank act. Conflict minerals compliance tools responsible minerals initiative. With tens of thousands of registered companies, ipoint has secured its position as the market leader for conflict minerals compliance software solutions. Securities and exchange commission sec, public companies are required to source their raw materials responsibly and disclose the use of conflict minerals, including tungsten, gold and 3tgtin tantalum. Doddfrank compliance tools fulfill your dodd frank. It explains what employees need to know about conflict minerals in the supply chain, as well as the duediligence and reporting requirements of the rule. Our conflict minerals compliance program has helped thousands of. Ecd is exempt from the recording requirements as we are not a publicly traded company and have less than 50 employees. Conflict minerals compliance software ipointsystems gmbh.
Nov, 2012 division of corporation finance conflict minerals disclosure a small entity compliance guide 1 introduction. Conflict minerals software and services ihs markit. Jun 28, 2017 most of the conflict minerals compliance efforts have been undertaken by inhouse personnel. In 2015 a us federal appeals court struck down some aspects of the reporting requirements as a violation of corporations freedom of speech, but left.
These minerals are gathering even more notoriety thanks to legislation such as the doddfrank wall street reform and consumer protection act recently introduced in the u. Dodd frank act compliance meeting the requirements of the dodd frank act s1502 conflict free minerals chain of custody product control is a comprehensive and verified information trail about the path taken by products from the mine to the point of use or, in the case of recycled materials, from the extraction site to the consumer including each stage of processing, transformation. The dodd frank sec conflict minerals legislation requires companies to comprehend and subsequently disclose the use of minerals 3tg in conflict areas such as the drc in order to protect human rights in the supply chain. Implementing a qms to help ensure all minerals used in a product are conflict free does help to ensure compliance with the dodd frank act. New compliance management system aims to help companies report on conflict.
Costs of conflict minerals compliance 1 of 3 why lower. Manage conflict minerals policy such as tin, tantalum, tungsten and gold across the supply chain. And, very few companies created new positions to accomplish these efforts. Doddfrank act section 1502 regarding drc conflict minerals. Conflict minerals compliance software reporting solutions. Conflict minerals special disclosure report in august 2012, the u. At the same time, it should centralize data for multiple initiatives not just compliance under conflict minerals rules but also compliance under reach, rohs, weee and hundreds of other possible restrictions. Photonics manufacturers are taking steps to ensure compliance with the dodd frank wall street reform and consumer protection act to disclose the use of conflict minerals in their products. Section 1502 of the us law known as the doddfrank act includes a requirement that.
Sec suspends conflict mineral rule enforcement supply chain. The dodd frank act dodd frank wall street reform and consumer protection act contains amongst others obligations concerning reporting and disclosing the use of conflict minerals. Efficiently manage conflict minerals compliance and transparency with an easyto use. Csrware offers conflict minerals management solutions that enable your business to fulfill requirements for sec disclosure. Most companies falling behind in conflict minerals due diligence. On august 22, 2012, the securities and exchange commission sec adopted a new rule and form, as mandated by section 1502 of the dodd frank wall street reform and consumer protection act dodd frank act, to require companies to publicly disclose their use of conflict. Join the market leader for conflict minerals compliance software solutions.
1629 1440 239 1000 1147 757 505 605 1033 1106 71 116 687 1096 1562 722 95 1115 1564 1338 434 1498 1115 1306 1081 77 569 1251 75 279 157 991 1410 1623 859 1545 489 215 142 586 695 1387 159 707 1232 1076 743 790