U.S. House Passes Bill Barring Funding For SEC Conflict Minerals Rule
Last week, the U.S. House passed its version of the fiscal year 2017 spending bill for financial services-related agencies, including the U.S. Securities and Exchange Commission (SEC). The bill is notable because it includes an amendment offered by Rep. Bill Huizenga (R-MI) that prohibits the SEC from using the funding appropriated to it in the bill “to enforce a SEC rule pursuant to Section 1502 of Dodd-Frank relating to conflict minerals.”
The Metals Service Center Institute strongly supported this amendment, which passed on a 236-188 vote. The majority of Republicans in the House (235) and one Democrat voted for the Huizenga amendment.
The Senate has not yet taken up its version of the bill.