Ever since US Senator Patrick Leahy’s February 16 letter to SEC referenced “the outlines of the final rule”, speculation spiked that the final conflict minerals rule had been drafted, made available to key Washington leaders and therefore finalization reasonably evident. We ourselves wrote about this.
Since that time, we launched a multi-faceted effort to locate and obtain this document. Today we received some surprising news from a US Senate office staffer who contacted SEC as a result of one of our requests:
The SEC directly denies that any form of a final conflict minerals regulation is complete, and no version of a final regulation has been officially submitted to any elected officials.
Did Senator Leahy simply use poorly chosen wording in his letter, or is there more to it? Certainly we don’t know and won’t speculate. However, it now appears that the wait and political obfuscation will continue.