Case Detail

In re Securities & Exchange Commission Proposed Conflict Minerals Rules
On March 30, 2011, WLF urged the SEC to revise its proposed rules for implementing the Conflict Minerals Reporting Requirements of Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), before issuing them in final form. In formal comments filed with the SEC, WLF expressed a longstanding interest in the work of the SEC, especially as it pertains to protecting employees, consumers, pensioners, and investors from stock losses caused by abusive securities and class action litigation. But WLF took issue with the SEC’s proposed reporting requirements, which threaten to place American companies on an uneven playing field with many foreign competitors who are exempt from SEC reporting requirements. WLF argued that it would be unfair and counterproductive if, as a result of the SEC’s new conflict minerals reporting requirements, American firms were placed at a competitive disadvantage with many of their foreign competitors.
Case Status:
Awaiting SEC action.
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