Conflict Minerals: New Regulatory Proposal in the U.S.

Many public companies in the U.S. are presently subject to disclosure requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The disclosure requirements relate to the use of conflict minerals originating in the Democratic Republic of the Congo or an adjoining country. A new regulatory motion calls for the repeal of those obligations: According to Bill H.R. 4248, section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act is to be deleted entirely. The respective legal proposal was referred to the Committee for Financial Services in November 2017, which presented its report to the House of Representatives in February 2018. A final decision or legislation is pending.