This complimentary 30 minute on-demand webinar provides information on the recently passed Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act on “conflict minerals”, and UL’s experience in helping companies address the challenge of identifying and tracking potential “conflict minerals” in their supply chain
The final rule affects many product categories including:
- Medical devices
- Other consumer goods
- Section 1502, Dodd-Frank Act overview
- Current industry efforts
- Identifying and tracking potential conflict minerals in the supply chain
Background on the Dodd-Frank Act and Conflict Minerals
On August 22, 2012, the U.S. Securities and Exchange Commission (SEC) issued final rules for compliance with Section 1502 of the Dodd-Frank Act over concerns that the involvement of armed groups in the exploitation and trade of conflict minerals is contributing to the ongoing conflict in the DRC, resulting in a severe humanitarian crisis. The Act requires publically traded companies in the U.S. to disclose if any tantalum, tin, gold or tungsten contained in their products originated from the DRC or an adjoining country.
In case minerals originated in Central Africa, companies are required to file a report to the SEC that includes a description of the measures they took to exercise due diligence on the conflict minerals’ source and chain of custody. The report must include an independent private sector audit that is conducted in accordance with standards established by the Comptroller General of the United States. Companies must comply with this new ruling beginning January 1, 2013, with the first reports due by May 31, 2014.
UL’s Conflict Minerals program manager will lead the webinar.
About UL’s Responsible Sourcing Group
UL’s Responsible Sourcing group is a leading global provider and thought leader of corporate responsibility auditing and ethical sourcing consulting services, which include monitoring, training, research, and program development. With offices in over 30 countries across five continents, Responsible Sourcing has the reach to provide audit services in over 140 countries around the world. As a third-party monitoring firm, Responsible Sourcing evaluates human rights, and labor and environmental standards in thousands of workplaces worldwide. Responsible Sourcing is part of UL Verification Services, a business unit of UL (Underwriters Laboratories).