February 3, 2017
The requirements of enforcing manufacturers, who file certain reports with SEC to disclose whether the products they manufactured or contract to manufacture contains conflict minerals, added an unrealistic work load and cost to US companies that affect their competency in the international market.
Although the required reporting limited to companies file reports with SEC, the fact that these requirements have been pushed down to many tiers sub suppliers, some of them are small business, to provide the required information. These requirements affected all manufacturers, distributors and raw materials supplier of all levels and sizes and supplier for both including small business and minority suppliers.
The value gained from these requirements, if there is any, doesnt by any means justify the cost and work load added to the US companies to do business.