SEC Won't Enforce Provision on Disclosure of Minerals Not 'Conflict Free'

The SEC won't enforce a rule that requires companies to declare when products aren't conflict mineral free, the Corporation Finance Division said. It follows a U.S. District Court for the District of Columbia ruling that the requirement violates the First Amendment. The SEC will now decide how to implement the Dodd-Frank Act provisions that mandated conflict minerals reporting. "In light of the … regulatory uncertainties, until these issues are resolved, it is difficult to conceive of a circumstance that would counsel in favor of enforcing Item 1.01(c) of Form SD,” Acting SEC Chairman Michael Piwowar said Friday. Last week, a tech group sought reporting changes, at a hearing (see 1704070017).