|By PR Newswire||
|April 10, 2014 09:14 AM EDT||
CARLSBAD, Calif., April 10, 2014 /PRNewswire/ -- Source Intelligence's 2013 data from the private industry's largest registry of suppliers shows it can take as long as six months for suppliers to respond to a request for conflict minerals reporting information. Publicly-held companies (issuers) must take into account this significant lead time in the preparation for compliance with Section 1502 of the Dodd-Frank Rule.
"At Source Intelligence, we've built a strong supplier relationship and have successfully used it to mitigate supplier resistance and avoid supplier fatigue," commented Kevin McArthur, Source Intelligence Manager of Risk and Compliance Solutions and author of key compliance publications. "Some suppliers simply don't understand the rule or are pushing back after receiving multiple requests for the same EICC survey."
On August 22, 2012, SEC adopted a final rule to implement Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) impacting 6,000 issuers and 20,000 non-issuers. The rule requires publicly-held companies to disclose whether their products contain conflict minerals: tin, tantalum, tungsten or gold (3TG) originating from the Democratic Republic of the Congo (DRC) or specific adjoining countries.
Supplier response time for conflict minerals reporting information is one of many insights provided through a benchmarking study based on Source Intelligence's industry leading registry of supplier information. Source Intelligence will be releasing more insights for each of the vertical industries it serves to ensure that its customers are appropriately prepared for their upcoming filings.
To learn more, download the whitepaper here.
About Source Intelligence (www.sourceintelligence.com)
Source Intelligence® is a value chain risk management company that helps customers make informed decisions about their business partners and suppliers, so they can offer products that meet legal, ethical, and environmental standards. Its 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. Founded in 2009, management consulting and analytics, Source Intelligence® has headquarters in Carlsbad, California and has operations around the world.
Source Intelligence® Contact:
Adam Harriss, Business Development Director
(877) 916 6337
SOURCE Source Intelligence