The SEC expects companies to file any reports required under Rule 13p-1 on or before the due date of June 2, 2014. The SEC has denied the motion filed by the National Association of Manufacturers, Chamber of Commerce, and Business Roundtable for a stay of the entire rule. The stay granted by the SEC pertains only to those portions which require statements by issuers that the Court of Appeals held would violate the First Amendment.
So what does this mean?
Companies that do not need to file a Conflict Minerals Report should file Form SD and in doing so:
– disclose their country of origin inquiry;
– describe the inquiry they undertook.
Companies that do need to file a Conflict Minerals Report should file Form SD and in doing so:
– disclose the due diligence the company undertook;
– disclose the facilities used to produce the conflict minerals, the country of origin of the minerals and the effort to determine the mine or location of origin for the minerals used for each product that falls within the scope of Item 1.01(c)(2) or Item 1.01(c)(2)i of Form SD; companies that need to file a Conflict Minerals Report do not need to identify such products as “DRC conflict undeterminable” or “not found to be ‘DRC conflict free’”.