April 27, 2015
Conflict Minerals: Bogus Predictions of 80% Disclosure Noncompliance?
This blog by Elm Sustainability Partners certainly got my attention. It covers a new report by Global Witness & Amnesty International, which claims there is a noncompliance rate of 80% when it comes to the SEC’s conflict minerals reporting requirements. As the blog notes, these findings fly in the face of the numerous other studies of last year’s Form SDs (all of which are posted in our “Conflict Minerals” Practice Area – and were covered in this popular webcast recently).
The blog points out the inconsistencies in this new report – but unfortunately, the new report was widely covered in the mainstream media including this Bloomberg article and Reuters article. The damage wrought by poorly reported stories in Rolling Stone magazine & others has taught the media nothing…
There have been a number of questions posed in our “Q&A Forum” on conflict minerals reporting (eg. #8413; 8402). We have been struggling with providing answers for some of them due to the varied responses that companies appear to be taking. If you have input, please weigh in (you can do so anonymously). This recent webcast on conflict minerals also may be useful as it was very popular…
Corp Fin: Two Trust Indenture CDIs Withdrawn
On Friday, Corp Fin withdrew these two CDIs under the Trust Indenture Act:
– Withdrawn Interpretation 202.01
– Withdrawn Interpretation 203.01
As a way to honor his extraordinary life, a group of luminaries has set up the “The Harvey J. Goldschmid Fund” at Columbia Law School. Pledges to the Goldschmid Fund may be made in a variety of ways and may be spread over five years.
Whistleblowers: Another $1+ Million Award to an Internal Auditor!
Last week, the SEC announced its 2nd whistleblower award to someone with an internal audit or compliance role, giving $1 million (see the memos about both of these awards in our “Whistleblowers” Practice Area)…
– Broc Romanek