Dodd-Frank re­peal quizzed

The Star Early Edition - - BUSINESS REPORT -

IN­CREASED vi­o­lence and cor­rup­tion in cen­tral Africa could be the re­sult of the re­cent de­ci­sion by the US Se­cu­ri­ties and Ex­change Com­mis­sion not to en­force a rule re­quir­ing US com­pa­nies to re­port their use of con­flict min­er­als, warn Congolese civic groups, rights groups and US sen­a­tors. “The con­flict min­er­als rule has played a crit­i­cal role in re­duc­ing vi­o­lence in min­ing ar­eas in the Demo­cratic Re­pub­lic of the Congo,” said US Se­na­tor Chris Coons. The con­flict min­er­als re­port­ing rule, part of the Dodd-Frank fi­nan­cial reg­u­la­tions law, has largely been suc­cess­ful in en­sur­ing that min­er­als worth tril­lions of dol­lars don’t ben­e­fit armed rebel groups blamed for hu­man rights abuses. – AP

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