Sending a strong signal as to the rule's potential fate, the
Acting Chairman's call for comments refers to the rule as
"misguided." The statement notably includes a long
paragraph pointedly calling into question whether implementation of
the rule has addressed the humanitarian objectives originally set
forth by Congress in enacting Section 1502:
The disclosure requirements have caused a de facto
boycott of minerals from portions of Africa, with effects far
beyond the Congo-adjacent region. Legitimate mining operators are
facing such onerous costs to comply with the rule that they are
being put out of business. It is also unclear that the rule has in
fact resulted in any reduction in the power and control of armed
gangs or eased the human suffering of many innocent men, women, and
children in the Congo and surrounding areas. Moreover, the
withdrawal from the region may undermine U.S. national security
interests by creating a vacuum filled by those with less benign
The Acting Chairman then states "[g]iven these facts on the
ground, I believe that it is essential to hear from interested
persons on all aspects of the rule and guidance." Comments on
the rule may be submitted here. No
specific deadline has been provided.
Michael Piwowar was appointed Acting Chairman of the SEC on
January 23. Jay Clayton has been nominated to serve as SEC Chairman
by President Trump, but his confirmation hearing has not yet been
To view Foley Hoag's Corporate Social Responsibility
Blog please click
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Join NECEC— the premier voice of businesses building a world-class clean energy hub in the Northeast—and Foley Hoag’s Energy and Cleantech practice for a not-to-be-missed discussion with offshore wind developers, leading public officials, investors and experts at the cutting edge of the Northeast’s emerging offshore wind market.
After decades of speculation about offshore wind’s future in the United States, the industry that has long powered grids in Europe has finally arrived in the Northeast. In the last year America’s first offshore wind project--off the coast of Rhode Island--started spinning and delivering power to the grid, Massachusetts Governor Charlie Baker signed into law a bill authorizing the procurement of 1,600 megawatts of offshore wind, and New York Governor Andrew Cuomo committed to 2,400 megawatts of offshore wind off the coast of New York by 2030. Meanwhile, major utilities have announced agreements with developers to purchase energy generated from the projects planned for the eastern seaboard.
The emerging trend of energy private equity ("EPE") funds is revolutionizing the renewable energy field, as renewable energy joins leveraged buyouts, venture capital and hedge funds as asset classes that institutional investors and high net worth investors are using to deploy their capital in a diversified manner, with the added "social good" of investing in a sustainable energy future.
Late last month, the Federal Energy Regulatory Commission (FERC) updated its 2002 guidance documents on how to prepare resource reports and demonstrate compliance with certain regulatory requirements...
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).