ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

IPC offers summary of final SEC Conflict Minerals Regulation.

Print | 
Email |  Comment   Share  
September 14, 2012 - To help electronics manufacturers and suppliers make sense of U.S. Securities and Exchange Commission’s 356-page final conflict minerals regulation, IPC has developed "Summary of the Final SEC Rules on Conflict Minerals." Seven-page document provides simplified explanation of the compliance process, as well asinformation on "phase-in" period implementation, audit standards and objectives, definitions of terms, conflict minerals report content, and disclosure requirements.

IPC Offers Electronics Industry Summary of Final SEC Conflict Minerals Regulation


(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

IPC-Association Connecting Electronics Industries
3000 Lakeside Drive
Bannockburn, IL, 60015
USA



Press release date: September 11, 2012

Hundreds of pages simplified into easy-to-understand document

BANNOCKBURN, Ill., USA, — Wading through the U.S. Securities and Exchange Commission’s (SEC) 356-page final conflict minerals regulation poses its own share of challenges, not to mention all of the burden that compliance poses. To help electronics manufacturers and their suppliers make sense of the rule, IPC – Association Connecting Electronics Industries has developed, “Summary of the Final SEC Rules on Conflict Minerals,” a 7-page document that is downloadable as a PDF file.

In response to IPC’s lobbying efforts, the SEC issued a more reasonable regulation but despite the improvement, the final rule may still be difficult to understand, let alone comply with. Continuing its leadership role in helping industry prepare for the costly regulation, IPC provides the summary as a free tool to help companies manage compliance.

Highlights of the summary include a simplified explanation of the compliance process: 1) A company must determine whether it is subject to conflict minerals requirements; 2) If yes, the company must conduct a reasonable country of origin inquiry to determine if the “necessary conflict minerals” used originated in the covered countries or are from recycled or scrap materials; and 3) If a company determines, or has reason to believe, that the conflict minerals originated in the covered countries and are not, or may not be, from recycled scrap sources, it must exercise due diligence on the source and chain of custody of conflict minerals and may need to provide a conflict minerals report (CMR).

Additional points include information on “phase-in” period implementation, audit standards and objectives, definitions of terms, conflict minerals report content and disclosure requirements.

IPC’s due diligence and data exchange committees will begin reviewing necessary changes to IPC-developed compliance tools and expect to publish a due diligence guideline document later this year. Said Joel Sherman, product environmental compliance manager, KEMET Electronics Corp. and co-chair of the E-30 Conflict Minerals Due Diligence Committee working on the guideline, “The document is intended to provide industry guidance within a flexible framework that companies may use to establish an effective conflict minerals due diligence program. We’re earnestly working to get the guideline out in November.”

To further help industry prepare for compliance, IPC will hold a series of conflict minerals seminars this fall.

To download “Summary of the Final SEC Rules on Conflict Minerals,” visit www.ipc.org/conflict-minerals-summary. For more information on IPC’s environmental policies and initiatives, contact Fern Abrams, IPC director of government relations and environmental policy, at FernAbrams@ipc.org or +1 703-522-2287.

About IPC
IPC (www.IPC.org) is a global industry association based in Bannockburn, Ill., dedicated to the competitive excellence and financial success of its 3,100 member companies which represent all facets of the electronics industry, including design, printed board manufacturing, electronics assembly and test. As a member-driven organization and leading source for industry standards, training, market research and public policy advocacy, IPC supports programs to meet the needs of an estimated $2.02 trillion global electronics industry. IPC maintains additional offices in Taos, N.M.; Arlington, Va.; Stockholm, Sweden; Moscow, Russia; Bangalore, India; and Shanghai, Shenzhen and Beijing, China.

Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



 See related product stories
More .....
 Visit Green and Clean Blog
  Latest from the Green and Clean Blog
 See more product news in:
Services
Green & Clean
 More New Product News from this company:
Scientific RoHS Revision Decision was praised by IPC.
More ....
| Featured Manufacturing Jobs
 Other News from this company:
RAMI Act Passes U.S. House of Representatives
Congressman Rodney Frelinghuysen Visits Heller Industries in New Jersey
IPC Conducts Study to Assess North American Labor Pool for Electronics Manufacturers
Electronics Assembly Standards IPC J-STD-001 and IPC-A-610 Updated
Congressman Brad Schneider Visits Creation Technologies in Illinois
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Trade Associations


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address