October 20, 2014 | Written by GreenSoft Technology, Inc.
U.S. Conflict Minerals Law Cost Issuers Over $700 Million to Comply
October 20, 2014｜Written by GreenSoft Technology, Inc.
Issuers have spent a total of $709.7 million complying with the Conflict Minerals provision of the Dodd-Frank Act adopted by the SEC in 2012, according to a recent survey from the Tulane University Payson Center for International Development.
On average, each issuer spent $545,962 to comply with the law. For issuers with less than $100 million in revenue, each spent an average of $190,330 - roughly one third as much as larger issuers spent. The total spent on compliance for small business issuers was just under $20.5 million.
These amounts represent about 0.00125% of large issuers' 2013 revenue and 0.007% of small issuers' 2013 revenue.
65% of surveyed companies reported a desire to see the law changed, and only 4% said they would like the law to stay as-is. (31% had no comment.)
Here at GreenSoft, we knew the Conflict Minerals law was going to be an added cost for affected manufacturers, but we are surprised at how much each issuer spent on average. Our Conflict Minerals data services and software come at a far lower price tag than the average that was paid by those surveyed in this study, and our services result in high-quality data for the required due diligence reporting. Don't get stuck spending excessive money for your conflict minerals compliance! Contact you GreenSoft rep for a free quote today or email@example.com.
Subscribe to our Blog
Blog Search & Categories
- Anti-Slavery and Human Trafficking
- California Proposition 65
- Canadian Environmental Protection Act
- CE Mark
- Certificate of Compliance
- China RoHS
- Component Disclosure Module
- Conflict Minerals – Canada
- Conflict Minerals – EU
- Conflict Minerals – U.S.
- eCMA Forms
- EN 50581/EN IEC 63000:2018
- EU Battery Directive
- EU Green Deal
- EU Medical Device Regulation (MDR)
- EU Persistent Organic Pollutants (POPs) Regulation
- EU REACH
- EU RoHS
- EU Volatile Organic Compounds (VOC)
- French Environmental Labeling Requirements
- Full Material Declaration (FMD)
- GreenData Manager Software
- GreenSoft Data Services
- GreenSoft Technology
- Hosted GreenData Manager (GDM) Software
- iGDM Component Database Search
- IPC-1752A Viewer
- JGPSSI & JIG-101
- Korea REACH
- SCIP Database
- Trade Shows
- U.S. Toxic Substances Control Act (TSCA)
- UK RoHS
- White Paper Library
Join RMI’s biggest event of the year, focused on corporate social responsibility and global supply chains
CMRT 6.22 now available for download
Join GreenSoft Technology for Responsible Minerals Initiative’s Best Event Of The Year!
CMRT 6.01 and CRT 2.11 Available for Download
Join us at the RMI conference on October 21-22 for Conflict Minerals