WASHINGTON, Jan. 22, 2014 /PRNewswire/ -- Seven of the world's largest industry associations collaborate with Source Intelligence and Schulte Roth & Zabel LLP to launch the first cross-industry training and resource center, addressing SEC's Conflict Minerals compliance regulation. Source Intelligence has developed the Conflict Minerals Resource Center (CMRC) to support over 15,000 member companies who collectively generate over $3 trillion (USD) in GDP and hundreds of thousands of U.S. jobs.
Key representatives from the American Apparel & Footwear Association (AAFA), the Fashion Jewelry and Accessories Trade Association (FJATA), the National Association of Manufacturers (NAM), the National Electrical Manufacturers Association (NEMA), the National Retail Federation (NRF), the Toy Industry Association (TIA) and the United States Fashion Industry Association (USFIA) worked with Source Intelligence and Schulte Roth & Zabel to align training and resource center priorities to provide member companies with the information they need to comply with the SEC regulation.
The goal of the joint initiative is to deploy easy-to-use Conflict Minerals compliance tools across the seven associations. By providing the member companies and their vendors and contractors with the information and resources needed to meet the compliance requirements, all players along the supply chain can spend less time navigating policy, and more time producing the products and services that generate economic growth and jobs.
On August 22, 2012, the SEC adopted a final rule to implement Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). The rule requires publicly-held companies to disclose whether their products contain conflict minerals as defined by the law: tin, tantalum, tungsten or gold (3TG) originating from the Democratic Republic of the Congo (DRC) and specific adjoining countries.
"Source Intelligence is honored to be entrusted with providing the nation's leading manufacturing and retail companies with the most complete resource for managing conflict minerals compliance," commented Jess Kraus, CEO and co-founder of Source Intelligence. "Our market leadership servicing global brands has enabled us to build the largest network of suppliers in the world."
The first report, covering calendar year 2013, is due to the SEC by May 31, 2014. The SEC and Government Accountability Office estimate that approximately 6,000 issuers and 280,000 non-issuer companies will be directly or indirectly impacted by the rule.
Access the conflict minerals training and resource center by at
About Source Intelligence® (www.sourceintelligence.com):
Source Intelligence® is an information knowledge company that helps customers make informed decisions about business partners to offer products that meet legal, ethical, and environmental standards. Our cloud-based information and analytics platform provides customers with visibility into product supply chains and material sources in order to comply with the law, minimize operational and brand risk, and improve efficiency.
As a leading provider of conflict minerals compliance programs, Source Intelligence protects customers' interests with private industry's largest network of suppliers, a platform to manage and connect business partners, and a portfolio of compliance programs for all regulated materials.
Source Intelligence® Contact:
Lina Ramos, Chief Business Officer
SOURCE Source Intelligence