Data Spotlight: SEC’s Conflict Minerals Rule Cost $709.7 Million, or $545,962 Per Company, Its First Year
Tulane University last week released the results of its June 2014 survey of U.S. companies that had to comply with the U.S. Securities and Exchange Commission’s (SEC) conflict minerals regulation. Based on responses from 112 companies, the university estimates it cost the 1,300 companies that had to comply with the rule $709.7 million. The average company spent $545,962 “worth of time and effort” to comply while smaller companies (those with less than $100 million in revenues) spent $190,333. Interested in more research on the cost of federal regulations? MSCI recommends reading this Forbes column by the Competitive Enterprise Institute’s Clyde Wayne Crews. In addition to outlining the total cost of U.S. regulations, Crews discusses how U.S. businesses can talk to the general public and leaders in Washington about the impact of these regulations.