November 18, 2012 – November 25, 2012
Every Monday, Squire Sanders will be posting a Conflict Minerals Rule Weekly Recap. This weekly recap is an aggregation of conflict minerals-related stories from the prior week. Think of it as your one-stop source for recent developments related to conflict minerals. Most, if not all stories, will include links for more in-depth reading.
Cisco Provides Its Suppliers with Their Own Dedicated Conflict Minerals Resources Page
The Cisco Supplier Conflict Minerals Resource page provides a streamlined resource providing links, supplier training, on-demand webcasts and advisory notices for the key requirements associated with conflict minerals. This page is to be updated to help the supply chain and customers understand and comply with the evolving requirements associated with conflict minerals disclosures.
Spend Matters Discusses the Challenge Facing Manufacturing Organizations In Determining Whether They Are Subject to the Rule Using Vanilla Steel as an Example
Spend Matters states that a company that purchases a product such as tinplate (think Campbell’s Soup can) will likely need to comply with the legislation. But how does the legislation impact a company that purchases “vanilla” hot-rolled steel coil (HRC)? Read the article from Spend Matters.
Companies, NGOs, Investors on Challenge to Conflict Mineral Rule
A multi-stakeholder group representing diverse organizations including issuers from several industrial sectors, sustainable, responsible and faith-based investors, and non-governmental organizations issued a release responding to the recent developments of the challenge to the Conflict Mineral Rule.
KEMET Corp. Position on Conflict Minerals Remains Clear Despite Legal Challenge to Conflict Minerals Rule
KEMET issued a press release stating that it continues to move forward with the “Partnership for Social and Economic Sustainability” initiative (formerly called “Making Africa Work”), despite a recent challenge to the final rule for Dodd-Frank Section 1502 by the National Association of Manufacturers and the US Chamber of Commerce.
Conflict Minerals and the Video Game Industry: The Problem
Conflict Minerals and the Video Game Industry: Progress and Setbacks
In the second part of its article, Escapist Magazine discusses the steps individual video game console manufacturers have taken in order to combat the problem of conflict minerals, and explores some of the possible solutions to the problem, as well as the ongoing challenges. Microsoft was the highest-rated console manufacturer in Enough Project’s 2012 report (PDF), earning a score of 38, up from 15 the previous year. Nintendo was the only major electronics company to score a 0 on the Enough Project’s 2012 report, meaning they have taken no action on the issue of conflict minerals.
Business Groups Challenging Conflict Minerals Rules Provide Some Insight on Potential Arguments
Several filings were made on November 21, 2012 in the litigation by the Chamber of Commerce, National Association of Manufacturers and the Business Roundtable against the SEC, seeking to put an end to the conflict minerals regulations. Although most of the filings were procedural, several of the filings made on November 21, 2012 provide insight into the legal arguments anticipated in the challenge and also some concept of possible timing, assuming the court agrees to a motion to expedite. Read the article from Squire Sanders discussing the challenge.