US House Gets Testy on Conflict Minerals Rules, Seeks SEC Vote July 1

A letter to SEC Chair Mary Shapiro was filed by 58 House Democrats on Friday June 22 concerning the delay in finalizing rules on conflict minerals and disclosures of payments made to governments by extractive industries.

The letter expressed disappointment that “the Commission has exceeded the statutory deadline for final [conflict minerals] rules by more than a year” and that “there is no sign that a final version of either rule will be published soon.”

The group admonished the Commission by stating “there is no clear reason for the delay” and that “the Commission has had more than enough time to consider and respond to all of the substantive comments.”

The letter closes with “We urge you to schedule a vote on the final rules to implement Sections 1502 and 1504 by July 1, 2012.  If a vote cannot be scheduled by this date, we request you respond to this letter with an explanation regarding the extended delay and provide us with a definitive date for a vote on these two rules.”

The  deadline for the response to the Congressmen is June 29, 2012.

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