CONFLICT MINERALS COMPLIANCE TRAINING COURSE
In August 2012, the Securities and Exchange Commission (SEC) approved a new rule known as the Conflict Minerals Rule. It requires publicly traded companies that use so-called "conflict minerals" — tantalum, tin, tungsten and gold — in their products to make public disclosure of the origin of those minerals as part of their regular financial disclosures to the SEC.
The Rule applies directly to public companies in many industries — technology, aerospace, automotive and consumer goods, to name a few. The Rule is intended to encourage these companies to strengthen their controls over how and where they obtain those minerals, thereby reducing the funding of armed groups responsible for extreme violence in the Democratic Republic of Congo and adjoining countries.
Non-compliance with the Conflict Minerals Rule can lead to severe consequences for a company, as well as its officers and employees.
This course covers the fundamentals of the Conflict Minerals Rule. The course is an important training tool for any company that uses conflict minerals — or metals derived from them — in its products or any part of its supply chain. The course includes pop quizzes, news clippings and a final quiz highlighting real-world compliance issues that employees should learn to recognize and respond to appropriately. The topics covered in this course include:
- Overview of the Conflict Minerals Rule
- Compliance process
- Does the Rule apply?
- Conducting a "reasonable country of origin inquiry" (RCOI)
- Due diligence
- Conflict Minerals Report
- Costs of non-compliance