For anyone who’s read the 350+ page SEC Dodd-Frank Section 1502 final rule, there’s one conclusion: the complexity of compliant due diligence and the accompanying reporting requirements can lead to startling exposure for your Senior Management, your Company and your brand.
Get the facts behind compliant due diligence.
Reporting requirements to publicly disclose the origin of gold, tin, tantalum and tungsten (3TG) used in products began on January 1, 2013 and requires specialized due diligence capabilities when evaluating your suppliers.
Oil and gas mega brands have both the court of law and the court of public opinion to answer to when it comes to the recently passed Dodd Frank Section 1502 reporting requirements, especially now that the first reporting period began on January 1, 2013.
Uncovering the Reasonable Country of Origin Inquiry (RCOI) requires a significant amount of labor and other resources, but it should be viewed as your “first pass” at identifying conflict minerals risks hidden within your supply chain. Successfully identifying these risks will require a thorough, well-organized system of data collection, and reasoned review of the collected information.
AIAG’s Conflict Minerals Work Group outlines actions that suppliers must take between January 1 and December 31, 2013.
Newsletter
AIAG’s conflict minerals work group, which includes representatives from the OEMs and Tier One suppliers, is working on strategies to help member companies effectively meet the requirements of the SEC’s Conflict Minerals Rule.
New Ceres Report Finds Disclosure by Exxon, Other Industry Giants Lacking; Reporting Rules Also Need Bolstering
Press Release
(3BL Media) Boston - August 2, 2012 – Deepwater oil drilling in all corners of the world. Hydraulic fracturing for gas and oil across the U.S. Proliferating oil sands production in Canada.
Greater Transparency Essential for Investors to Gauge Whether Industry Is Addressing Material Risks Exposed by BP Gulf Spill
Summary:
The Securities and Exchange Commission should play a critical role in requiring oil companies to boost their public disclosure of material financial risks they face from offshore oil drilling projects. To that end, a group of leading U.S. investors has asked the national commission investigating the Gulf of Mexico oil spill to recommend development of new disclosure guidance from the SEC for energy companies involved in ever-increasing deepwater drilling activity globally.
Press Release
The Securities and Exchange Commission should play a critical role in requiring oil companies to boost their public disclosure of material financial risks they face from offshore oil drilling projects. To that end, a group of leading U.S. investors has asked the national commission investigating the Gulf of Mexico oil spill to recommend development of new disclosure guidance from the SEC for energy companies involved in ever-increasing deepwater drilling activity globally.
