PMPA Makes Sense of Conflict Minerals Guidance for Machine Shops
The PMPA staff has prepared a conflict minerals compliance guide for members based on our analysis and understanding of the SEC’s final rule.
PMPA, Editor at Large
PMPA provides assurance to you in the high stakes world of regulatory compliance.
The PMPA staff has prepared a conflict minerals compliance guide for members based on our analysis and understanding of the SEC’s final rule. That’s 356 pages worth of time the association won’t be getting back, but it’s time it saves you.
The 2-page summary provides a link to the final rule, an overview of the potential impact of the rule, an explanation of the SEC’s determination of what constitutes “conflict minerals” as applies to precision machining shops, a clarification of the “necessary to production” question (If the conflict minerals are in my shop’s tools, machinery or computers, do they need to be reported?) that concerns many people.
In addition to identifying the four focus minerals that are encountered in our industry, the report provides five questions to help you make sense of and formulate your reply to each job and request for documentation from your customers for conflict mineral status.
Finally, the document provides both the means to determine and suggested language to warrant that your product is “DRC conflict free” to your customer.
Effective associating through PMPA means that members get an easy to understand document to make sense of their obligations under Dodd Frank and guidance on how to respond to and educate your customer.
The PMPA’s diligence on identifying regulatory issues and making sense of regulations help members assure compliance and avoid draconian penalties. Also, the PMPA provides tools to help you respond effectively and confidently, minimizing the impact and burden on your shop.
Not a PMPA member? Call Jeff Remaley at 440-526-0300.
Originally posted on PMPASpeakingofPrecision.com blog.