July 2, 2012 / 3:28 PM / 5 years ago

US SEC sets date to vote on conflict minerals rule

WASHINGTON, July 2 (Reuters) - The U.S. Securities and Exchange Commission has finally set a date to vote on controversial new rules requiring companies to make disclosures on conflict minerals and payments made to governments.

The SEC said it will meet on Aug. 22 to publicly vote on the two sets of rules, which are required by the 2010 Dodd-Frank Wall Street reform law. The conflict minerals rule will require companies to disclose whether they use tantalum, tin, gold or tungsten from the Democratic Republic of the Congo. The other rule requires oil, gas and mining companies to disclose payments they make to governments.

In addition, the SEC said it will also vote on a proposal required by the newly enacted JOBS Act which would lift a ban on general advertising for private securities offerings.

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