Part ofconflict minerals →

FEDERALhearing transcript

High Impact

Senate Hearing: Reviewing the 'Conflict Minerals' Law

Original title: A PROGRESS REPORT ON CONFLICT MINERALS

January 1, 2020

conflict minerals Dodd-Frank Act human rights Democratic Republic of the Congo SEC regulation supply chain transparency

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The Frame

What this does

The committee is reviewing whether to maintain or change federal reporting requirements for companies regarding mineral sourcing, which impacts compliance costs for businesses and international efforts to reduce violence in the DRC.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

SEC-listed companies

These companies must perform and report on supply chain due diligence regarding minerals.

Armed groups in the DRC

The law aims to reduce the revenue these groups collect from mineral mines.

Investors and shareholders

They receive disclosures regarding the source of minerals used in the products of the companies they invest in.

What changed

Last recorded activity January 1, 2020.

What's next

Next step not available in the current record.

Summary

The Senate Subcommittee on Africa and Global Health Policy held a hearing to evaluate the effectiveness of of the Dodd-Frank Act. This law requires companies to disclose if their mineral supply chains support armed groups in the Democratic Republic of the Congo (DRC).

Key Facts

Section 1502 of the Dodd-Frank Act was signed into law in 2010 without prior committee hearings in the House or Senate.
The law requires companies filing with the SEC to perform due diligence on their mineral supply chains to identify if they fund armed groups in the DRC.
The SEC acting chairman indicated in January 2017 that the agency is reconsidering the appropriateness of the current implementing rules.
Proponents of the law note that armed groups have become scarcer at mine sites since the law's implementation.
The law has increased global awareness among consumers and investors regarding mineral sourcing.
The law imposes compliance costs on the private sector.
Violence and human rights abuses continue to occur in the Eastern DRC despite the law.
The hearing was held on April 5, 2017, in the Dirksen Senate Office Building.

Why It Matters

Frequently Asked Questions

What is the 'conflict minerals' rule?

It is a federal requirement for companies to check and report whether the minerals used in their products help fund armed militias in the Democratic Republic of the Congo.

Why is the Senate reviewing this law now?

After seven years, the committee is assessing whether the law is actually reducing violence in the DRC and whether the SEC should provide relief to companies from the reporting requirements.

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

SEC Reconsideration

The hearing highlights a shift in 2017 where the SEC began reconsidering the implementation of the conflict minerals rule.

Securities and Exchange Commission

Connected Entities

personJeff Flake“Chairman of the Subcommittee on Africa and Global Health Policy”Map →

locationDemocratic Republic of the Congo“The region impacted by the conflict minerals policy”Map →

personMichael Sharp“A UN employee recently killed in the DRC”Map →

organizationSecurities and Exchange Commission“The agency responsible for enforcing the conflict minerals reporting rule”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance75
How much this matters to a regular citizen
Controversy60
Intensity of disagreement among stakeholders
Entertainment20
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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