The SEC held a roundtable to discuss the agency's rulemaking under Section 1502 of the Dodd Frank Act, which relates to reporting requirements in connection with resource extraction and the use of "conflict minerals" sourced from the Democratic Republic of Congo and adjoining countries. The chair of the SEC along with three other commissioners, SEC Staff and certain issuers, industry groups and NGOs participated. The roundtable participants discussed various issues regarding the implementation of Section 1502, including the timing of implementation of the rule, the meaning of certain terms and phrases used in Section 1502 (including, for example, 'conflict minerals', 'manufacture', 'contract to manufacture' and „reasonable country of origin inquiry'), the methods and standards for due diligence, the content of a conflict minerals report and the nature of the audit of a conflicts mineral report. In connection with the roundtable, the SEC has extended the comment period on the proposed rule. It is expected that the final rule will be published by the end of 2011. For more on the proposed disclosure rules regarding the use of conflict minerals, see http://www.paulweiss.com/files/upload/20Sep11Alert.pdf