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Senators Urge SEC to ‘Promptly’ Issue Conflict Minerals Rules

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Senators Urge SEC to ‘Promptly’ Issue Conflict Minerals Rules

Posted by Corrine Hauth on October 20, 2011

Senators Urge SEC to ‘Promptly’ Issue Conflict Minerals Rules

U.S. senators this week sent a letter calling on the Securities and Exchange Commission, or SEC, to promptly implement the Conflict Minerals Provision of the Dodd-Frank Act. “Allowing any further time to elapse will only prolong the profound human suffering and violence occurring in the Democratic Republic of Congo (DRC) today,” the group of 12 senators said in the letter addressed to SEC Chairman Mary Shapiro.

The letter highlighted the need for immediate action and strong rules with no phase-ins or delays in reporting requirements, as regulations have already been delayed since April. This bipartisan call for transparency and accountability within supply chains is essential, and an excellent step in pressuring the SEC to pass strong regulations quickly. 

The senators’ message to the SEC was timely, as the commission held a roundtable on the conflict minerals provision of the Dodd-Frank Act on Tuesday to discuss the issues staff is wrestling with in developing a final rule. 

The Enough Project’s Raise Hope for Congo team incorporated this letter to Chairman Schapiro in its Step Up for 1502 campaign last week. Reaching supporters through Facebook and e-mail, Raise Hope for Congo called on followers to contact their state senators on behalf of 1502 and this letter.

Many thanks to the U.S. senators for lending their support at a crucial juncture: To Senators Barbara Boxer (D-CA), John Boozman (R-AR), and Christopher Coons (D-DE) for spear-heading this letter. And to Senators Mark Begich (D-AK), Sherrod Brown (D-OH), Robert P. Casey, Jr. (D-PA), Frank R. Lautenberg (D-NJ), Patrick J. Leahy (D-VT), Jeff Merkley (D-OR), Barbara A. Mikulski (D-MD), Sheldon Whitehouse (D-RI) and Ron Wyden (D-OR) for signing on.