New Disclosure Requirements Under the Dodd-Frank Act: A Move Towards Greater Transparency
European Company Law, Kluwer Law International, Special Issue on CSR and SRI, 2012, Volume 9, Issue 2, pp 64-69
7 Pages Posted: 13 Jun 2012 Last revised: 10 Nov 2012
Date Written: June 13, 2012
This article considers two little known provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act with potential to have great impact on mulitnational and other businesses listed on US national stock exchanges. Specifically, the article discusses the 'conflicts minerals' provision requiring disclosure by companies of the use of certain minerals sourced from the Democratic Republic of Congo and the provision requiring disclosure of payments made to foreign governments by resource extractors. It describes the requirements of each provision, examines the costs and benefits of each. It also discusses the disclosure philosophy underlying the US securities laws and locates these provisions within that philosophy.
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