SEC Issues Final Rule to Implement Dodd-Frank Reporting Requirement Relating to Conflict Minerals

On August 22, 2012, the Securities and Exchange Commission issued its long-awaited final rule under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the use of conflict minerals. The final rule, which under Dodd-Frank should have been issued April 15, 2011, is intended to reduce the flow of funds from the extraction and sale of certain minerals that have been used to finance armed conflict in the Democratic Republic of Congo (DRC) and surrounding countries by increasing accountability for parties involved in the supply chains for these products.