US conflict minerals rule upheld by Court

The US conflict minerals rule, implementing section 1502 of the  Dodd Frank Act, was upheld by a court ruling in Washington yesterday. The rule, which requires companies to disclose whether  conflict minerals are used in their products
was implemented last year by the Securities and Exchange Commission (SEC) but was the subject of litigation by US industry groups earlier this year.

The court rejected all of the plaintiffs’ claims and the rule as implemented still stands. The first report that companies need to submit under the Conflict Minerals rule is due by May 2014.