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ARTICLE · 06 AUGUST 2013

SEC's Conflict Minerals Rule Upheld

The District Court for the District of Columbia has recently upheld Rule 13p-1 under the Securities Exchange Act of 1934.

CanadaEnergy and Natural Resources

Summary

On July 23, 2013, the District Court for the District of Columbia upheld Rule 13p-1 under the Securities Exchange Act of 1934 (the "Exchange Act"). Adopted by the United States Securities and Exchange Commission's (SEC) in August 2012, Rule 13p-1 requires public companies to disclose their use of "conflict minerals." Conflict minerals are defined to include gold, coltan, cassiterite and wolframite, along with all other minerals determined by the Secretary of State to be financing conflict in the Democratic Republic of Congo or an adjoining country.

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