White says SEC will proceed implementing conflict minerals rule

WASHINGTON, April 29 Tue Apr 29, 2014 11:51am EDT

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WASHINGTON, April 29 (Reuters) - The U.S. Securities and Exchange Commission will press ahead with implementing large portions of a rule requiring companies to determine if their products contain "conflict minerals" from a war-torn part of Africa, SEC Chair Mary Jo White said Tuesday.

In testimony to a U.S. House of Representatives panel, White said a recent appeals court ruling that struck down a provision in the conflict minerals rule does not justify delaying the rest of the regulation's requirements.

The court "went out of its way" to uphold the vast majority of the rule, White told lawmakers, adding that the SEC would soon issue guidance to help companies before a June 2 compliance deadline. (Reporting by Sarah N. Lynch)

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