The proposed EU conflict minerals regulation has almost reached the last step before becoming an official EU regulation. On March 16, 2017, the European Parliament voted to approve the regulation, and the Council of the EU is expected to formally approve it in the weeks to come. The Council’s vote will be the last step before the regulation is published and goes into effect. The proposed regulation includes many of the same basic provisions as the US rule, but several reporting obligations and the coverage of the regulation are broader than those of the US rule.
Some are disappointed with the final EU regulation, saying that it is not strong enough. But, those EU importers that are covered by it will certainly bear a significant burden to comply with its requirements.