Assess Risk, Collect Supplier Data, and Accurately Report to SEC
The United States Dodd-Frank Act, Section 1502, is landmark legislation that requires manufacturing companies to understand and disclose the use of minerals mined in or around the war-torn region of the Democratic Republic of the Congo (DRC).
Companies listed on the U.S. stock market have until May 31 each year to disclose whether any Conflict Minerals are found in their products. And companies not directly regulated by the SEC will be impacted too as audit requirements are pushed down through the entire supply chain including privately-held and international companies.
NACD BoardVision: Compliance and Conflict Minerals
In this video, Motorola Mobility, Ernst & Young, and PTC discuss the best practices for Conflict Minerals compliance.
Watch the video ›
What You Need to Do
The United States Dodd Frank Act, Section 1502, requires manufacturing companies to identify and disclose to the U.S. Securities and Exchange Commission (SEC) the source of 3TG minerals (tin, tantalum, tungsten and gold) used in their products when those minerals originate from or around the war-torn region of the Democratic Republic of the Congo (DRC).
The five critical requirements of the conflict minerals reporting process are:
- Determine Applicability - Do products and parts contain 3TG minerals?
- Perform RCOI - Determine if the country of origin of the 3TG minerals is in the DRC region
- Conduct Due Diligence - For 3TG minerals sourced from the DRC region, conduct due diligence over the chain of custody
- Determine Status – Assess supplier, part and product level conflict mineral status
- Report – Fulfill SEC and customer reporting requirements
How PTC Can Help
PTC provides the technology solutions and best practices expertise to address these requirements, enabling manufacturers to easily identify and report on any 3TG minerals in their supply chain.
PTC’s solution can be quickly configured and implemented to address your immediate reporting needs, enabling your organization to:
- Identify the presence of 3TG in parts, products and supply chain
- Automate the collection and validation of reasonable country of origin inquires (RCOI)
- Systematically perform due diligence and determine the source of 3TGs from the DRC
- Assess and report on conflict minerals status of parts, products and suppliers
- Provide evidence of due diligence and a data-rich audit trail