SEC Chair Jay Clayton Voices Support for Disclosure Reform; Could Include Conflict Minerals

According to a Reuters article, the new Chairman of the U.S. Securities and Exchange Commission (SEC), Jay Clayton indicated his support for reducing disclosure rules during a July 12, 2017 speech to the Economic Club of New York.

During the speech, Clayton laid out his regulatory philosophy and said the SEC staff was working to prepare proposals aimed at reforming the rules on disclosure. While he did not specify which regulations he would seek to reform, he did observe that lawmakers and regulators have “significantly expanded the scope of required disclosures beyond the core concept of materiality.”

Conflict minerals regulations, on which the SEC sought comments earlier this year, could be considered to fall within that description.

IPC filed comments on conflict minerals reform, and will continue to advocate for its members on this issue.

2 Comments

  1. Arthur Ackerman
    Posted July 13, 2017 at 2:32 pm | Permalink

    it would be great if Conflict Minerals reporting could be eliminated or at least reduced, however, we are now getting more CMRT requests from EU and Far East companies. Once entrenched in these locations it will be hard to break the system.

  2. Fern Abrams
    Posted July 14, 2017 at 9:33 am | Permalink

    IPC continues to advocate for reducing the burden associated with Dodd-Frank reporting requirements for Conflict Minerals. IPC also had a strong voice in advocating against mandatory reporting requirements for downstream manufacturers in the recently implemented EU Conflict Minerals legislation. However, you should be aware that many leading consumer electronics companies have repeatedly stated that their focus on conflict minerals preceded US or EU legislation and will continue regardless of the status of Dodd-Frank.


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