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September 29, 2014

Canadian Parliament Votes Down Conflict Minerals Bill

Citing the enormous compliance costs associated with it, the Canadian House of Commons last week voted down the “Conflict Minerals Act,” a bill that would have required the nation’s corporations to “exercise due diligence” with respect to the trade of conflict minerals from the Great Lakes Region of Africa. The vote was 146 against the bill and 127 in favor. The legislation was “similar in scope” to a U.S. provision passed as part of the 2010 Wall Street reform bill, but would have applied to all industries, not just the manufacturing industry.