Human Rights Group Says SEC Rules Critical to Stem Resource-Fueled Violence around the World

SEC Finally Issues Rules on Dodd-Frank after More Than a Year’s Delay (Washington, D.C.) — United to End Genocide Executive Director Bama Athreya issued the following statement in advance of the Security and Exchange Commission (SEC) ruling on sections 1502 and 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act: “While United to End Genocide is dismayed by the serious delaythat the Securities and Exchange Commission has taken in announcing its decision, we are glad that the rules related to sections 1502 and 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act are finally being issued. “Despite the fact that Congress took action over two years ago to mandate increased transparency in conflict minerals and extractive resources, delays by the SEC have let valuable time slip by when the law should have been in effect. “The purpose of requiring stronger due diligence on conflict minerals — which have directly enabled violence in the Democratic Republic of the Congo — is to make it more difficult for the perpetrators of mass violence to gain the resources needed to fund atrocities. It’s severely disappointing that the SEC has delayed the measure. We will work to pressure companies to comply early, and will continue to work with our partners to ensure that the rule is implemented as effectively as possible. “More generally,section 1504 is an important tool in ensuring full transparency between extractive companies, national governments and affected communities. If fully implemented, the provision will prevent future mismanagement of resources by empowering civilians to hold their governments accountable. This will serve as a necessary step toward stemming the misuse of extractive resources, including by preventing funds from fueling human rights abuses. “Although the strength of the rules is yet to be determined, we recognize the harm the delay has caused to companies, the people of eastern Congo and the people of other countries where atrocities are ongoing. Now that the SEC has moved forward on this issue,we hope that the final rules will reflect both congressional intent, and the urgency of ending and preventing human rights abuses.”

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The Save Darfur Coalition and Genocide Intervention Network are now United to End Genocide. The organization remains committed to its work to end the crisis in Darfur and bring peace to all of Sudan as well as to end violence in other areas of mass atrocities. The merger creates the world's largest anti-genocide activist organization, with a membership base of hundreds of thousands of committed activists, an unparalleled nationwide student movement, more than 190 faith-based, advocacy and human rights partner organizations, and a network of institutional investors collectively representing more than $3 trillion in assets under management.
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