The Dodd-Frank Wall Street Reform and Consumer Protection Act 2010
The Dodd-Frank Act Section 1502(e) (4) is a US regulation which establishes obligations for US stock-listed companies to disclose information about their use of tin, tungsten, gold and tantalum originating from the Democratic Republic of Congo (DRC) and adjacent countries. The aim of this rule is to call for international action on ending the conflict mineral trade in DRC which fuels armed conflict in the region.
According to this new regulation, all companies reporting to the US Securities and Exchange Commission (SEC) are required to conduct due diligence on the use of conflict minerals in their supply chain and to make annual disclosures to the SEC.
Audiotonix Limited approach to conflict minerals
Audiotonix is committed to the health and safety of people and of the environment worldwide. Moreover, Audiotonix requests this commitment from its suppliers by implementing its Suppliers Code of Conduct which involves their compliance with all international and local regulations on the environment and working practices.
Although Audiotonix is not a stock listed company on the NY exchange, we are committed to addressing the use of conflict materials in all of our group company products. Audiotonix is committed to the cessation of human rights violations in the mining of conflict minerals in restricted countries. We are also committed to increasing supply chain transparency have made requests to our vendors to trace the source of minerals used in components manufactured in their supply chain. Our suppliers will implement procedures to ensure conflict minerals do not enter their products. We recognize the challenge that this represents due to the difficulties our suppliers face to fully trace and understand the origin of the minerals used in their processes and products. However, with this robust policy in supply chain transparency, we will continue to promote responsible sourcing of all our materials.
Approved on behalf of Audiotonix Group Limited by:
Group Operations Director – August 2019