American Metal Market Quotes Partner John Arnett on the Conflict Minerals Rule
April 10, 2017
The American Metal Market article “SEC move on conflict minerals stirs questions” notes that Michael Piwowar, acting chairman of the U.S. Securities and Exchange Commission, decided to suspend enforcement of a section of the conflict minerals rule that violated the First Amendment. Senior advisor, John Arnett, thinks companies will continue to report as they have done previously until the SEC clarifies what has to be reported. “He is saying that they wouldn’t enforce (the rule), but they’re not saying there’s not a requirement. It is still a requirement,” he noted. John isn’t sure of the SEC’s best course of action, but "we'd favor the SEC looking at the rule to conform to the court's decision. This is absolutely necessary they do that since it was found to be unconstitutional," he said.