20:59:58 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Globe/wire say Trump to curb SEC on "conflict minerals"

2017-02-09 08:03 ET - In the News

The Globe and Mail reports in its Thursday edition that U.S. President Donald Trump is planning to issue an executive order targeting a Dodd-Frank rule that requires companies to disclose whether their products contain "conflict minerals" from Africa. A Reuters dispatch to The Globe says that the 2010 Dodd-Frank law explicitly gives the President authority to order the Securities and Exchange Commission to temporarily suspend or revise the rule for two years if it is in the national-security interest of the United States. The plan for the executive order follows another order issued by the White House last week that takes aim more broadly at the Dodd-Frank rules put into place after the 2007-09 financial crisis. That order did not single out any one particular rule, but it called on the Treasury Secretary to consult with other regulators, including the SEC, and to come back with a report outlining possible regulatory changes and legislation. The conflict-minerals rule is one of several disclosure regulations tucked into Dodd-Frank which are unrelated to the financial crisis itself. The conflict-minerals rule was pushed by human-rights groups as a way to curb the funding of armed groups.

© 2024 Canjex Publishing Ltd. All rights reserved.