Investors Recommend Strong SEC Rules on Conflict Minerals
Investors have been paying close attention to the rules the SEC is proposing to implement Provision 1502 of the Dodd-Frank Finance Reform Act.
Signed by 49 investors each letter in November 2010 and March 2011, shareholders made detailed recommendations to the SEC on which companies should file and how companies should file their Conflict Mineral Reports to the SEC.
Although aligned with the multi-stakeholder comments, investors went a step farther and commented on issues where the multi-stakeholders could not reach consensus.
Investor submissions to the SEC can be found here:
RSN would like to recognize three key investors who greatly contributed to these efforts:
- Lauren Compere, Boston Common Asset Management
- Aditi Mohapatra, Calvert Asset Management Co. Inc.
- Susan Baker, Trillium Asset Management Co.
In addition, many members supported these comments from the Interfaith Center on Corporate Responsibility (ICCR) and Social Investment Forum (SIF). A special thanks goes out to Peter De Simone, who also contributed to our investor comments.
We are looking forward to strong final rules from the SEC, which will provide more disclosure for investors and help ensure shareholders’ investments are not inadvertently supporting rape and violence in the Congo.
On February 1, 2012, a subset of investors submitted another letter to the SEC highlighting the most important components investors are looking for in Provision 1502.
You can see the submission on the SEC comments page.