SEC Issues FAQs On Conflict Minerals And Resource Extraction

Miriam Sowinski is an Associate in our Jacksonville office

On May 30, 2013 the SEC released 12 FAQs relating to disclosure regarding the use of conflict minerals, and nine FAQs relating to disclosure of payments by resource extraction issuers. Disclosure of the use of conflict minerals is required under Exchange Act Section 13(p), SEC Rule 13p-1 and Item 1.01 of Form SD. Disclosure of certain payments made by resource extraction issuers to foreign governments or the U.S. government is required by Exchange Act Section 13(q), SEC Rule 13q-1 and Item 2.01 of Form SD. The guidance provided in the FAQs is summarized below.

Conflict Minerals:

1. Voluntary filers are required to file Form SD; however, registered investment companies that file under Investment Company Act Rule 30d-1 are not required to file Form SD.