[Federal Register Volume 76, Number 23 (Thursday, February 3, 2011)]
[Proposed Rules]
[Pages 6110-6111]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-2374]
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Parts 229 and 249
[Release No. 34-63793; File No. S7-40-10]
RIN 3235-AK84
Conflict Minerals
AGENCY: Securities and Exchange Commission.
ACTION: Proposed rule; extension of comment period.
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SUMMARY: The Securities and Exchange Commission is extending the
comment period for a release proposing amendments to its rules to
implement Section 1502 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act. [Release No. 34-63547; 75 FR 80948 (December
23, 2010)]. The original comment period for Release No. 34-63547 is
scheduled to end on January 31, 2011. The Commission is extending the
time period in which to provide the Commission with comments on that
release for 30 days until Wednesday, March 2, 2011. This action will
allow interested persons additional
[[Page 6111]]
time to analyze the issues and prepare their comments.
DATES: Comments should be received on or before March 2, 2011.
ADDRESSES: Comments may be submitted by any of the following methods:
Electronic Comments
Use the Commission's Internet comment form (http://www.sec.gov/rules/proposed.shtml);
Send an e-mail to [email protected]. Please include
File Number S7-40-10 on the subject line; or
Use the Federal Rulemaking Portal (http://www.regulations.gov). Follow the instructions for submitting comments.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number S7-40-10. This file number
should be included on the subject line if e-mail is used. To help us
process and review your comments more efficiently, please use only one
method. The Commission will post all comments on the Commission's
Internet Web site (http://www.sec.gov/rules/proposed.shtml). Comments
are also available for Web site viewing and printing in the
Commission's Public Reference Room 100 F Street, NE., Washington, DC
20549-1090, on official business days between the hours of 10 a.m. and
3 p.m. All comments received will be posted without change; we do not
edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly.
FOR FURTHER INFORMATION CONTACT: John Fieldsend, Special Counsel in the
Office of Rulemaking, Division of Corporation Finance, at (202) 551-
3430, at the U.S. Securities and Exchange Commission, 100 F Street,
NE., Washington, DC 20549-3628.
SUPPLEMENTARY INFORMATION: The Commission has requested comment on a
release proposing amendments to its rules to implement Section 1502 of
the Dodd-Frank Wall Street Reform and Consumer Protection Act. The
proposed rules would affect the annual reporting requirements of
issuers that file reports pursuant to Sections 13(a) or 15(d) of the
Securities Exchange Act of 1934 (the ``Exchange Act'') and would
require any such issuer for which conflict minerals are necessary to
the functionality or production of a product manufactured, or
contracted to be manufactured, by that issuer to disclose in the body
of its annual report whether its conflict minerals originated in the
Democratic Republic of the Congo or an adjoining country. If so, that
issuer would be required to furnish a separate report as an exhibit to
its annual report that includes, among other matters, a description of
the measures taken by the issuer to exercise due diligence on the
source and chain of custody of its conflict minerals. These due
diligence measures would include, but would not be limited to, an
independent private sector audit of the issuer's report conducted in
accordance with standards established by the Comptroller General of the
United States. Further, any issuer furnishing such a report would be
required, in that report, to certify that it obtained an independent
private sector audit of its report, provide the audit report, and make
its reports available to the public on its Internet Web site. The
release was published in the Federal Register on December 23, 2010.
The Commission originally requested that comments on the release be
received by January 31, 2011. The nature of the proposed disclosure
requirements differs from the disclosure traditionally required by the
Exchange Act, and the proposal requested comment on a variety of
significant aspects of the proposed rules. The Commission has received
requests for an extension of time for public comment on the proposal
to, among other things, allow for the collection of information and
improve the quality of responses.\1\ The Commission believes that
providing the public additional time to consider thoroughly the matters
addressed by the release and to submit comprehensive responses to the
release would benefit the Commission in its consideration of final
rules. Therefore, the Commission is extending the comment period for
Release No. 34-63547 ``Conflict Minerals'' for 30 days, to Wednesday,
March 2, 2011.
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\1\ See, e.g., Advanced Medical Technology Association et al.
(Dec. 16, 2010); Representative Spencer Bachus, Chairman, Committee
on Financial Services, U.S. House of Representatives (Jan. 25,
2011); Department of State (Jan. 25, 2011); Jewelers Vigilance
Committee et al. (Jan. 10, 2011); National Mining Association (Jan.
3, 2011); National Stone, Sand Gravel Association (Jan. 13, 2011);
and World Gold Council (Jan. 7, 2011). Comments are available on the
Commission's Internet Web site at http://www.sec.gov/comments/s7-40-10/s74010.shtml.
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By the Commission.
Dated: January 28, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-2374 Filed 2-2-11; 8:45 am]
BILLING CODE 8011-01-P