The Securities and Exchange Commission (SEC) confirmed on May 30, 2014, that chemical compounds manufactured from tin, tantalum, tungsten, and gold (the 3TGs) are not included in the scope of the final rule implementing the Conflict Minerals provision (Section 1502) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The U.S. House agriculture appropriations bill for fiscal year (FY) 2015 includes almost $2.6 billion in discretionary funding for the Food and Drug Administration (FDA), an increase of $23 million over the FY 2014 enacted level. The bill provides $4.5 billion total funding for FDA, including revenue from user fees, or $98 million above FY 2014. More specifically, the bill includes an increase of $25 million for food safety activities and an increase of $12 million for drug safety activities over the current budget.
The U.S. Securities and Exchange Commission (SEC) published an Order Issuing Stay on May 2 for that portion of the Conflict Minerals Rule that requires companies with certain covered products to publicly describe them as not "DRC conflict free." In particular, on April 14, 2014, the U.S. Court of Appeals for the D.C.
The U.S. Court of Appeals for the D.C. Circuit has upheld the information collecting, record keeping, and reporting requirements of the U.S. Securities and Exchange Commission (SEC) Conflict Minerals Rule in an April 14 ruling. However, the court struck down as a violation of the First Amendment prohibition against government compelled speech the law's requirement that companies with certain covered products publicly describe such products as not "DRC conflict free."
The European Commission (EC) proposed a draft Regulation to establish a self-certification system aimed stopping the trade of conflict minerals, which finances armed conflicts in the Democratic Republic of Congo (DRC) and surrounding areas. Under the voluntary self-certification program, EU importers of tin, tantalum, tungsten, and gold and their ores would be required to monitor and administer their purchases and sales based on the five steps of the Organisation for Economic Cooperation and Development (OECD) Due Diligence Guidance.
The U.S. District Court for the District of Columbia upheld the U.S. Securities and Exchange Commission (SEC) final rule implementing regulations pursuant to Section 1502 of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act related to the use of conflict minerals.