Stay current on changes and developments in corporate law with a wide variety of resources and tools.
Eligible issuers spent more than $700 million to comply with Dodd-Frank's provisions that require disclosure for businesses that use conflict minerals, according to a survey from Tulane University's Payson Center for International Development.
Each of the roughly 1,300 issuers required to file Form SD under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act spent more than $540,000 to comply with the law, the survey found, a figure that included companies' internal time use and external expenditures.
The survey was based on responses from 112 of the 1300 eligible issuers.
Issuers with less than $100 million in annual revenue spent less than $200,000 on average, approximately one-third what large issuers spent, according to the survey.
Almost two-thirds of the companies surveyed said they would like to see some change to Section 1502.
1934 Securities Exchange Act Rule 13p-1 requires U.S. public companies and foreign private issuers to disclose their use of so-called “conflict minerals”—gold, tantalum, tin and tungsten from the Democratic Republic of Congo and surrounding region—if those minerals are “necessary” to a product they made .
The 1,300 issuers filed their first-ever disclosures in June, which covered their use of the minerals in calendar year 2013.
The SEC has not issued an official statement on the filings, and a legal case concerning the constitutionality of the rule is ongoing .
The survey is available at http://www.payson.tulane.edu/sites/default/files/content/files/TulanePaysonS1502PostFilingSurvey.pdf.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)