August 16, 2013 – August 23, 2013
The summaries provided in this Weekly Recap do not necessarily represent the views of Squire Sanders (US) LLP and should not be deemed to be endorsements of them. The Recap is intended to be a compilation of articles and events to encourage discussion within the conflict minerals community and to keep our readers updated on the most recent developments.
Composites Manufacturing Online: Appeal of Conflict Minerals Rule Could Provide Relief
John Schweitzer, American Composites Manufacturers Association’s Senior Director of Government Affairs, recently wrote a blog post on Composites Manufacturing Online, titled, Appeal of Conflict Minerals Verdict May Provide Relief for Composites Manufacturers.
In his blog post, Mr. Schweitzer states, “Successful appeal of a U.S. District Court’s decision could reduce the scope of conflict minerals information requests submitted to many composites manufacturers by their publicly held customers.”
While this may be true, we are urging manufacturers and customers of publicly held manufacturers to assume that the decision of the appeal will not be rendered until sometime during 2014 and to continue in their compliance efforts and respond to their customers’ inquiries.
Weyco Group, Inc. – Conflict Minerals Policy
Over the past year, we have been building quite the library of company conflict minerals policies on our blog. Our hope is that you reference the conflict minerals policies in our library when drafting your own policy. This week, we add to our library by including the Weyco Group, Inc. conflict minerals policy.
Weyco Group, Inc., a designer and marketer of footwear for men, women and children, recently released its conflict minerals policy. Excerpts from the policy follow. “Weyco requires all factories to confirm that no Gold, Tin, Tungsten or Tantalum is used in our shoes or other products. If any of the conflict minerals are used we are requiring factories to provide and disclose the origins of the materials. Factories or factory suppliers should not be sourcing these materials from the DRC region. It is the factories responsibility to notify Weyco group if any of these materials are used and the source of materials.”
Congo Calling Releases Template Urging Members of the UK Parliament to Enforce UN Regulations
Congo Calling is a “campaign that is calling for the UK government to lead on enforcement of pre-existing UN regulations on illicit minerals trade within the Democratic Republic of the Congo.”
In connection with its campaign, Congo Calling released a template for activists to use when writing to their Member of Parliament (MP). The template references a November 2010 UN Security Council resolution, which called on companies to exclude conflict minerals from their supply chains. The template requests that the MP bring this resolution to the attention of the UK government and exert influence on central African governments to comply with the UN resolution.
CFO Magazine: Why Conflict Minerals Disclosure is Serious Business
In its latest article concerning conflict minerals, Why Conflict Minerals Disclosure is Serious Business, CFO Magazine’s Kristine Brands stresses the importance of “organizing the processes and resources to comply” with the conflict minerals rule, even though the due date for filing the Form SD for the initial reporting period is still nine (9) months away.
Ms. Brands then provides a short primer of the three-step analysis reporting companies must undertake to determine their reporting obligations under the conflict minerals rule.