The SEC will require issuers that use “conflict minerals” in their manufacturing to disclose details about their origin. The “conflict minerals” the new rule will apply to are gold, tantalum, tin, and tungsten. Issuers must disclose whether the materials are from the Democratic Republic of Congo or an adjoining country. If the materials are from one of those countries, the issuer must attempt to determine whether the purchase of the minerals benefits armed groups and disclose its findings.
The disclosure must be made both with the SEC, through Form SD, and publicly, via a website. The first disclosure must be made on May 31, 2014 (for the 2013 calendar year) and then annually on May 31 in subsequent years.
Source: SEC Adopts Rule for Disclosing Use of Conflict Minerals (SEC Release 2012-163)
This alert applies to the Series 82, Series 62, and Series 79.