Nongovernmental Organizations Provide Guidance On Conflict Minerals Regulation Compliance
Last week, Amnesty International and Global Witness, nongovernmental organizations that support the U.S. Security and Exchange Commission’s (SEC) conflict minerals regulation, issued a report summarizing U.S. firms’ compliance with the rule and outlining best practices for compliance. The two groups found 79 percent of firms did not fully comply with the rule in 2014 and offered suggestions for ways companies could improve this year.
While MSCI opposes this regulation, and has worked with partners in the business community to support a lawsuit challenging it, since the rule remains in effect while that litigation proceeds, MSCI encourages its members to read the Amnesty International/Global Witness report, along with this memo from Shearman & Sterling, LLP summarizing the best practices’ guidance offered by the two groups.
Companies subject to the conflict minerals rule must file their next reports by June 1, 2015.
Another group that supports the SEC rule, the Responsible Sourcing Network, has also offered guidance to companies that must comply with the SEC’s rule. MSCI also reminds its members that they should check MSCI’s own conflict minerals webpage for help with compliance.