Dodd Frank Act Section 1502

The dodd frank act section 1502 part of the u s.

Dodd frank act section 1502. It was passed by the obama administration in 2010 to prevent armed groups in the democratic republic of the congo drc and surrounding regions from benefiting from the sale of these minerals. Publicly listed companies to check their supply chains for tin tungsten tantalum and gold if they might originate in congo or its neighbours take steps to address any risks they find and to report on their efforts every year to the u s. To disclose their use of tin tungsten tantalum and gold 3tgs in their products and determine if they are sourced in an ethical manner.

Section 1502 of the dodd frank act requires all securities and exchange commission sec reporting companies to disclose whether their products contain minerals from the democratic republic of the congo drc or one of its neighboring countries. One of the drivers of this pressure comes from a regulation passed in 2010 as part of the dodd frank wall street reform and consumer protection act. The dodd frank wall street reform and consumer protection act passed by the us congress in july 2010 includes a provision section 1502 aimed at stopping the national army and rebel groups in the drc from illegally using profits from the minerals trade to fund their fight.

Government s dodd frank wall street reform and consumer protection act signed into law in july 2010 requires publicly traded companies to ensure that the raw materials they use to make their products are not tied to the conflict in congo by tracing and auditing their mineral supply chains. Section 1502 of the dodd frank wall street reform consumer protection act requires public companies in the u s. Title xv of the dodd frank wall street reform and consumer protection act contains several specialized disclosure provisions.