New Information from SEC on Form SDs and Conflict Minerals Reports

Earlier today, Elm received word from the SEC on two important matters related to Conflict Minerals Reports (CMRs) and future interpretive guidance.

First, for filers that are classified as “undeterminable” and don’t use the specific wording “DRC Conflict Undeterminable” in the text of the CMR, the part of the disclosure concerning improvements to due diligence measures is not required for the CY2013 filing.  However, if an issuer chooses to use the words “DRC Conflict Undeterminable”, the CMR must include a description of the improvements to be made to the due diligence measures.

Second, SEC is attempting to respond to specific requests for interpretations made by individual issuers/entities.  We have been told that in these cases, the SEC expects to provide responses on an individual basis rather than publishing more Q&A.  The SEC hopes that the responses will be more widely disseminated informally by the recipients.

In that regard, we are offering to be a “clearinghouse” for these individual responses to anyone who is willing to submit to us the SEC responses received.  We are volunteering to publish the text of the responses without providing names.  Feel free to submit any such information, responses or letters to us and we will publish the substantive information anonymously.

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