BREAKING: SEC Votes in Favor of Strict Conflict Minerals Audit Rule

The folks over at our sister site, MetalMiner, have been eagerly awaiting the verdict of the SEC's conflict mineral ruling this morning. See initial coverage below, and check back on both MetalMiner and Spend Matters for further analysis and details.

"The SEC in a 3-2 vote this morning passed comprehensive rules requiring companies and their supply chains purchasing the group of metals called "Conflict Minerals" (this group of metals includes: tantalum and columbite-tantalite or coltan, tin and cassiterite, tungsten and wolframite, gold and their derivatives) to file annual audited statements by May 1 of each year.

Large companies will have a two-year implementation timeline, while smaller companies will have a four-year timeline. In addition, the audit must include both a review of the program implementation as well as program design...."

Click here to read the rest of this article on MetalMiner.

- Lisa Reisman

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