In the next few weeks, some 6,000 U.S.-listed companies are expected to release lots of detail about their supply chains—but few conclusions—in the first reports required by law on whether their products contain “conflict minerals.”
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In the next few weeks, some 6,000 U.S.-listed companies are expected to release lots of detail about their supply chains—but few conclusions—in the first reports required by law on whether their products contain “conflict minerals.”
The convergence of technology acceleration and patent reform has created an urgent need for business leaders, including CFOs, to reassess their IP strategies. As patent wars and the challenges of protecting IP expand beyond technology and pharmaceutical companies into previously untouched sectors, CFOs can master the dimensions of IP management by staying up to date on current legislative responses, understanding how technology has disrupted the patent process and by learning the nine dimensions of a robust IP management process.
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In it incorrect that compliance can be effortless with minimal expense. I guess we need to define “minimal”, but I would say my company has spend $300 – 400K and we re far from the answer …
Many companies experienced difficulties during the first year of Conflict Minerals understanding what the SEC was requiring and determining which of their products were in-scope for the regulation. That stage is now done. Beginning this year, companies are focusing on efficiently validating supplier data and moving their supply chains toward using audited, conflict-free smelters.
There are solutions that can make this compliance effortless with minimal expense. The SEC and NGO’s will not tolerate inaction.
Dramatically different regulations typically have a difficult first year – see S-Ox. For Conflict Minerals, many companies have taken the first year to let the dust settle, and there was plenty as described in the article. Year 2 will see more company investment, focusing on efficiently and effectively automating the conflict minerals reporting process.
Companies are wasting time and resources in attempting to comply. There is another SEC rule, Rule 12b-21, that says a company need not report any information that it does not possess and cannot obtain without unreasonable expense and effort. That is how every company should respond to the reporting requirement: “The information cannot be provided without undue effort and expense.”