assentcompliance · compliance amongst the top environmental compliance solutions in the world and...

C u s t o m s o l u t i o n s f o r C o m p l i a n C e [ r e a C H | r o H s | C p s i a | r s l | p r o p 6 5 ]

i n f o @ a s s e n T c o m p l i a n c e . c o m w w w . a s s e n T c o m p l i a n c e . c o m T e l : 6 1 3 . 2 9 0 . 8 0 4 4

ASSENTCOMPLIANCE

Jonathan hughesDirector of environmental services – north [email protected]

an assent compliance Webinar



ASSENTCOMPLIANCE

AGENDA•CorporateOutline• AreviewofoldPrevailingthoughtsonConflictMineralsvs.Currentdata•WhathastranspiredsincePromulgation•AreviewofAssent’ssurveyresults• LessonsLearned• TheFutureofConflictMinerals• Q&A



ASSENTCOMPLIANCE

About AssENtAssentCompliancedeliversSaaSEnvironmentalComplianceServices tocompanieswhomustcomplywithlocal,nationalandglobalenvironmentalregulations.Assentalsosupportsitssoftwaredivisionwithateamofhighlyexperienced industry consultants to provide our clients with turnkeycompliance solutions. Industry experts atTier 1 companies rankAssentComplianceamongst thetopenvironmentalcompliancesolutions intheworldandoneoftheonlyglobalsolutionproviderstoofferafullservicesolutionfromendtoend.

our MissioNIstohelpourclientscomplywithenvironmentalregulationsinthemostefficientandcosteffectivemannerpossible.Thisisachievedthrough SaaS automation of processes andworkingwith clientstobuildefficient internal complianceprograms thatmeetglobalcompliancerequirements.



ASSENTCOMPLIANCE

How tHE AssENt CoMpliANCE MANAGEMENt systEM works

iNtEGrAtEs witH MAjor Erp/plM

systEMs

built-iN CrM for CoMpliANCE tAsks, DuE DiliGENCE rEportiNG

AND AuDit trAils

MoDulEs to CoMply witH All MAjor ENviroNMENtAl

rEGulAtioNs

pulls bill of MAtEriAl (boM) iNto A CENtrAlizED CoMpliANCE DAtA

bAsE or opErAtEs As A stAND-AloNE systEM.

builD ipC 1752-A forMs. iMport/Export viA xMl

Allows iNtErNAl stAff to MAkE ENGiNEEriNG ovErriDE

AssEssMENts

CoMMuNiCAtEs witH supply CHAiN iN bi-DirECtioNAl fAsHioN

to proCurE ENviroNMENtAl iNforMAtioN froM suppliErs

HoMoGENizE propriEtAry suppliEr DoC forMAts iN xMl

ACts As A rEpository for ANy CoMpliANCE rElAtED MAtEriAl



ASSENTCOMPLIANCE

ComplianceAssessmentServicesForEnvironmentalRegulations

InternalStandardOperatingProcedureConsulting

CompliancePlanDevelopment

ComplianceStrategyConsulting

ConflictMineralCompliance

ITSystemIntegration

CoNsultiNG sErviCEs



ASSENTCOMPLIANCE

ottAwA, oNtArio CANADA (HQ)

NEw york, NEw york

tAipEi, tAiwAN

MuNiCH, GErMANyloNDoN, uk

kENyA(CoNfliCt MiNErAls)

bANGAlorE, iNDiA

our offiCEs



ASSENTCOMPLIANCE

tHE olD prEvAiliNG viEws oN CoNfliCt MiNErAls• Costs

• VariedWILDLYdependingonwhatyouread

• SECinitiallysaid$71Million

• NAMsaidsomewherebetween$9–$16Billion

• Tulanestudyindicatedanestimatedcostof$7.93Billion

• SECacknowledgeditsinitialestimatewastoolow

• ThereisageneralconsensusthatNAM’sfiguresweretoohigh(Ex:Anaverageof$2,670,000perissueriswayoffthemark)



ASSENTCOMPLIANCE

tHE olD prEvAiliNG viEws oN CoNfliCt MiNErAls (CoNt’D)•WhathasAssentseen?

• Assentcurrentlyhavevisibilityinto:

» Softwarecosts

» Internalresourcecostsdirectlyrelatedtosupportingcompliance

» Externalconsultingcosts

• Inallofthesecases,wearecommentingonsituationswhereoutsourcingisbeingutilized

• Assenthassubmittedover200quotationsforConflictMineralsservicessinceJune2012

• Thesecostspertaintothedirectexternalcostofcompanieslookingtooutsourceatleastthedataacquisi-tionandstorageportionsoftheirConflictMineralsprogram:

• AverageSetupandDataAcquisitionforthefirstyearwillcostofbetween$25,000and$125,000dependingonthesizeofthecompanyandtheservicestheyrequire

• Continuingcostofbetween$20,000and$80,000peryear(again,dependingonthesize&complexityofthedatabasealongwithdesiredsupportservices)

• DependingonDueDiligencerequirementsstemmingfromtheinitialinquiry,thesecostcouldbeex-ceededby10%-25%(documentationauditonly)



ASSENTCOMPLIANCE

tHE olD prEvAiliNG viEws oN CoNfliCt MiNErAls (CoNt’D)iNtErNAl Costs (if you utilizE outsourCED support)it• Ifyouarelookingtohaveaclouddatabasesetupasanexternaldatasilo,thereisverylittleinternalITcosts

•Theymostlysurroundtryingtohomogenizesupplierdatainternally

• Youcanestimatethatitwilltake20-40hoursperITdatabasewheretheinformationisstore(dependinglargelyonhowyouhavesetupyourdatabaseandtheskilloftheITpersonassignedthetask)

• IntegrationwithaninternalERPorPLMsystemcouldincuradditionalcoststosetupandmaintaintheAutomatedProgramInterfaceconnection(API)

•Approxdoubletheefforttosetupandaminimalefforttomaintain(afewhourseveryquarter)



ASSENTCOMPLIANCE

tHE olD prEvAiliNG viEws oN CoNfliCt MiNErAls (CoNt’D)iNtErNAl Costs (if you utilizE outsourCED support)proJect aDministration•Managingtheprogram–approximately10-20hourspermonth(dependingonsizeandcomplexity)for

thefirstyear

• Expectedtofallby50%year2andfurtherastimegoeson

•HandlingescalationsandDueDiligence

•VeryhardtoquantifyDueDiligencerequirementsrightnow

• DueDiligencecanonlybeadministeredoninformationwhichismissingformmostcompaniesrightnow

•Escalationscanbedependentontheescalationprocess

• Escalationsusuallyusedwheninformationismissingorinsufficient(whichdiffersfromDueDiligence)

•Outsourcedsupportcantypicallyhandlethisbutthereareoccasionswhereacompany’sinternalresourceswillneedtoeitherinterveneorapplypressure

• Internalinvolvementneededonaveragefor<10%ofsuppliers

» Typicallyanywherefrom15minutesto1hourforeachsupplier



ASSENTCOMPLIANCE

proMulGAtioN to prEsENt DAy• SupplierResponses

• Beforepromulgation,youwerelookingataresponserateof10-15%

•Currentlylookingat25-50%“outofthebox”ifyoulookatusinganoutsourcedserviceprovider

•Vastmajoritywillnotbeconclusive(IE:“Unknown”)

•MostcompanieslookattheprocessthesuppliersareusingtoobtaindatanotnecessarilytheCMstatussincesomanyarecurrentlyunknown

» IE:Not“Wheretheyare”but“Howtheygotthere”and“Wheretheyplantobe”



ASSENTCOMPLIANCE

proMulGAtioN to prEsENt DAy (CoNt’D)risk•Howarecompany’sdealingwithrisk?

•Usuallyaweakspot

• Somesortofriskscoringorgrading

•Baselinevs.Dynamic

•Baselinehas2portions:

» Corporate(Issuervs.Non-issuer)

» Material(chanceitcontains3TG)

•Thisisthestartingriskscore

•DynamicriskisbasedonthesuppliersresponsestoyourRCOI



ASSENTCOMPLIANCE

proMulGAtioN to prEsENt DAy (CoNt’D)Howaresuppliersdoingthis?

•Dependsonthecompany’ssizeandindustrybuttypically:

» 1pointofcontactrespondstoCMinquiries

» GenericPDFresponsesoranEICCformresponse

» Generallytheseare“DQ4s”(IE:“IwilldiscloseinQuarter4of2013”)

• Slowlyworkingonengagingtheirsuppliers

» Takingtheirleadfromtheircustomersandflowingdownresponsibilities



ASSENTCOMPLIANCE

proMulGAtioN to prEsENt DAy (CoNt’D)suCCEss vs. fAilurE AND CoMMoN ApproACHEs•Where have we seen success?

• Preparingyoursuppliers

» Education,Cooperation,Dissemination

» CommunicatewithSuppliers

• Setyourselfupforsuccess

» Assessyourinternalsituationandgetsomebaselinedatabeforesettingpoliciesandgoals

» Settingexpectationswithcustomersandexternalstakeholders

•Where have we seen failure?

•Knee-jerkreactions(Ex:“CustomerXaskedusforaCMdeclaration–getXYZsuppliersonthephoneandgiveourcustomerananswernextweek!”)

• Lackofpreparation

•Relyingonotherprocesses

» JustbecausesomethingworkedforRoHSandREACHdoesnotmeanitwillworkforConflictMinerals!



ASSENTCOMPLIANCE

proMulGAtioN to prEsENt DAy (CoNt’D)•Commonapproaches

• EICCform,CustomFormoraDOC

» EICCisgoodbecauseitiscommonlyused

» Customformprovidesflexibility

» DOC is easy to implement but ultimately does not provide enough information toadministerappropriateDueDiligence

•Riskbased

» Determinewhoyour“HighRisk”suppliersareandmakesureto:

•Obtaina“conclusiveresponse”intimeforyourfirstreportingperiod

•ConductDueDiligenceontheseresponses

•Assign“LowRisk”alowerpriority(perhapsfocusongatingandthesubmissionof1responsetoanEICCorcustomform)



ASSENTCOMPLIANCE

AssENt’s survEy rEsultsprEfACE•Over270responsesreceived

• Evenspreadofcompaniesbysizeandindustry

• Foralookatthesurveyquestions,youcangohere:https://www.surveymonkey.com/s/Assent_conflict_minerals_survey



ASSENTCOMPLIANCEQ1 Does your company file 10K, 20f or 40f reports with the sec (ex: is your company listeD on the nyse?)?

ANswErED: 270 skippED: 0

ANswEr CHoiCEs rEspoNsEs

yes 54.07%

no 38.52%

i Don’t Know 7.41%

total 270

146

104

20

ConflictMineralsBenchmarkingSurvey

1/12

54.07% 73

38.52% 52

7.41% 10

Q1Doesyourcompanyfile10K,20For40FreportswiththeSEC(Ex:IsyourcompanylistedontheNYSE?)?

Answered:135 Skipped:0

Yes No Idon'tknow

54.07%(73)

38.52%(52)

7.41%(10)

Yes

No

Idon'tknow

TotalTotal 135135

AnswerChoices Responses



ASSENTCOMPLIANCEQ2 please inDicate your company’s size, baseD on its marKet capitalization, accorDing to the criteria below:


ANswEr CHoiCEs rEspoNsEsmega-cap: over $200 billion 2.26%

large-cap: over $10 billion 21.05%

miD-cap: $2 billion – $10 billion 18.05%

small-cap: $250 million – $10 billion 30.08%

micro-cap: below $250 million 9.77%

nano-cap: below $50 million 18.80%

total 270

6

56

48

80

26

50


2/12

2.26% 3

21.05% 28

18.05% 24

30.08% 40

9.77% 13

18.80% 25

Q2Pleaseindicateyourcompany'ssize,basedonitsmarket

capitalization,accordingtothecriteriabelow:


0% 20% 40% 60% 80% 100%

Mega-cap:Over$200

billion

Large-cap:Over$10

billion

Mid-cap:$2billion–$10

billion

Small-cap:$250

million–$2...

Micro-cap:Below$250

million

Nano-cap:Below$50

million

Mega-cap:Over$200billion

Large-cap:Over$10billion

Mid-cap:$2billion–$10billion

Small-cap:$250million–$2billion

Micro-cap:Below$250million

Nano-cap:Below$50million

TotalTotal 133133




ASSENTCOMPLIANCE

Q3 please select the inDustries/verticals that your company operates in:


pArtiCipANts wErE AllowED to sElECt MorE tHAN oNE optioN

ANswEr CHoiCEs rEspoNsEsautomotive 27.61%

aerospace 21.64%

consumer gooDs 23.13%

Defense 18.66%

electrical & electronics 57.46%

inDustrial 36.57%

meDical 30.60%

personal care 7.46%

retailer 8.96%

other 15.67%

total responDents 268

74

58

62

50

154

98

82

20

24

42


3/12

27.61% 37

21.64% 29

23.13% 31

18.66% 25

57.46% 77

36.57% 49

30.60% 41

7.46% 10

8.96% 12

15.67% 21

Q3Pleaseselecttheindustries/verticalsthatyour

companyoperatesin:


0% 20% 40% 60% 80% 100%

Automotive

Aerospace

ConsumerGoods

Defense

Electrical&Electronics

Industrial

Medical

PersonalCare

Retailer

Other(pleasespecify)

Automotive

Aerospace

ConsumerGoods

Defense

Electrical&Electronics

Industrial

Medical

PersonalCare

Retailer

Other(pleasespecify)Responses

TotalRespondents:TotalRespondents:134134




ASSENTCOMPLIANCE

Q4 how long has your company been preparing for conflict minerals?


ANswEr CHoiCEs rEspoNsEs>1 year 41.35%

6-12 months 31.58%

3-6 months 12.03%

<3 months 6.77%

we have not begun preparations 8.27%

total 266

110

84

32

18

22


4/12

41.35% 55

31.58% 42

12.03% 16

6.77% 9

8.27% 11

Q4HowlonghasyourcompanybeenpreparingforConflictMinerals?


0% 20% 40% 60% 80% 100%

>1year

6-12months

3-6months

<3months

Wehavenotbegun

preparations

>1year

6-12months

3-6months

<3months

Wehavenotbegunpreparations

TotalTotal 133133




ASSENTCOMPLIANCE

Q5 how large is your internal conflict minerals worKing group?


ANswEr CHoiCEs rEspoNsEs9 employees or greater 13.43%

5-8 employees 19.40%

2-4 employees 32.09%

1 employee 16.42%

there is currently no formal worKgroup 18.66%

total 268

36

52

86

44

50


5/12

13.43% 18

19.40% 26

32.09% 43

16.42% 22

18.66% 25

Q5HowlargeisyourinternalConflictMineralsWorkingGroup?


9employeesorgreater

5-8

2-4

1

Thereiscurrentlyno

formalworki...

9employeesorgreater

5-8

2-4

1

Thereiscurrentlynoformalworkinggroup

TotalTotal 134134




ASSENTCOMPLIANCE

Q6 have you retaineD specialist outsiDe legal counsel with expertise on the conflict minerals rule?


ANswEr CHoiCEs rEspoNsEsyes 22.56%

no 77.44%

total 266

60

206


6/12

22.56% 30

77.44% 103

Q6HaveyouretainedspecialistoutsidelegalcounselwithexpertiseontheConflictMineralsRule?


0% 20% 40% 60% 80% 100%

Yes

No

Yes

No

TotalTotal 133133




ASSENTCOMPLIANCE

Q7 are you currently using or planning to use 3rD party support services?


ANswEr CHoiCEs rEspoNsEsyes 31.51%

no – we will be using internal resources only 63.49%

total 252

92

160


7/12

36.51% 46

63.49% 80

Q7Areyoucurrentlyusingorplanningtouse3rdpartysupport

services?


0% 20% 40% 60% 80% 100%

Yes

No-wewillbeusingintenral...

Yes

No-wewillbeusingintenralresourcesonly

TotalTotal 126126




ASSENTCOMPLIANCE

Q8 below, we have listeD stanDarD phases in a conflict minerals program. please checK any of the phases that your organization has begun or completeD:


pArtiCipANts wErE AllowED to sElECt MorE tHAN oNE optioN


wE HAvE bEGuN/CoMplEtED our sCopE DEtErMiNAtioN for CoNfliCt MiNErAls 63.43%

wE HAvE ADoptED A poliCy stAtEMENt rElAtiNG to CoNfliCt MiNErAls sourCiNG 55.97%

wE HAvE sENt out A “DEAr suppliEr” lEttEr to our vENDors 49.25%

wE HAvE DistributED A QuEstioNNAirE/survEy to our vENDors 41.04%wE HAvE ADoptED A CoMpliANCE frAMEwork tHAt is CoN-sistENt witH tHE oECD frAMEwork 29.10%

wE HAvE bEGuN/CoMplEtED our DuE DiliGENCE & riskAssEssMENt 35.07%

wE HAvE bEGuN/CoMplEtED forM sD AND CMr prEpArAtioNs 8.21%

NoNE of tHE AbovE 11.94%


170

150

132

110

78

92

22

32


8/12

63.43% 85

55.97% 75

49.25% 66

41.04% 55

29.10% 39

35.07% 47

8.21% 11

11.94% 16

Q8Below,wehavelistedstandardphasesinaConflictMinerals

program.Pleasecheckanyofthephasesthatyourorganizationhas

begunorcompleted:


0% 20% 40% 60% 80% 100%

Wehavebegun/completedourSco...

Wehaveadoptedapolicy...

Wehavesentouta"DearSupplier"...

Wehavedistributedaquestionna...

Wehaveadopteda

compliance...

Wehavebegun/completedourDue...

Wehavebegun/completedFormSD...

Noneoftheabove

Wehavebegun/completedourScopeDeterminationforConflictMinerals

WehaveadoptedapolicystatementrelatingtoConflictMineralssourcing

Wehavesentouta"DearSupplier"lettertoourvendors

Wehavedistributedaquestionnaire/surveytoourvendors

WehaveadoptedacomplianceframeworkthatisconsistentwiththeOECDframework

Wehavebegun/completedourDueDiligence&RiskAssessment

Wehavebegun/completedFormSDandCMRpreparations

Noneoftheabove

TotalRespondents:TotalRespondents:134134




ASSENTCOMPLIANCE

Q9 will you be using the eicc-gesi conflict minerals reporting template, a custom form or an alternate methoD to Query your supply chain?


ANswEr CHoiCEs rEspoNsEseicc-gesi conflict minerals reporting template 65.38%

custom form 21.54%

other 13.08%

total 260

170

56

34


9/12

65.38% 85

21.54% 28

13.08% 17

Q9WillyoubeusingtheEICC-GeSIConflictMineralsReportingtemplate,acustomformoranalternatemethodtoqueryyoursupplychain(Chooseone)?


EiCC-GesiConflictMinerals...65.38%(85)

Customform21.54%(28)


13.08%(17)

EiCC-GesiConflictMineralsReportingtemplate

Customform


TotalTotal 130130


Other (please specify)13.08%

Custom Form21.54%

EiCC-Gesi Conflict Minerals Reporting Template65.38%



ASSENTCOMPLIANCE

Q10 what Do you expect will be the greatest risK to conflict minerals compliance for your organization? (although all liKely apply, please choose the one which represents the greatest risK in your opinion).



10/12

12.03% 16

62.41% 83

8.27% 11

7.52% 10

3.01% 4

0.75% 1

1.50% 2

4.51% 6

Q10WhatdoyouexpectwillbethegreatestrisktoConflictMineralscomplianceforyourorganization?(Althoughalllikelyapply,pleaseChoosetheonewhichrepresentsthegreatestriskinyouropinion)


0% 20% 40% 60% 80% 100%

Alackofclarityin

therules...

Alackofsupplier

informatio...

Non-Issuers,whohaveno

legal...

Insufficientinternal

resources...

Uncertaintyoverwhat

constitute...

Ourpeerswillbeahead

ofusin...

NGO,shareholder,customer,...


Alackofclarityintherules(Ex:Whatconstitutes“reasontobelieve”?)

Alackofsupplierinformation/supplierknowledgeregardingConflictMinerals

Non-Issuers,whohavenolegalrequirementstocomplywillnotcooperatewithourrequests

Insufficientinternalresourcesorrelevantexpertise

UncertaintyoverwhatconstitutesanOECDcompliantduediligenceframework

Ourpeerswillbeaheadofusintheircomplianceefforts

NGO,shareholder,customer,consumeror"grassroots"pressureorattention


TotalTotal 133133



A lACk of ClArity iN tHE rulEs (Ex: wHAt CoNstitutEs “rEAsoN to bEliEvE”?) 12.03%

A lACk of suppliEr iNforMAtioN/suppliEr kNowlEDGE rE-GArDiNG CoNfliCt MiNErAls 62.41%

NoN-issuErs, wHo HAvE No lEGAl rEQuirEMENts to CoMply will Not CoopErAtE witH our rEQuEsts 8.27%

iNsuffiCiENt iNtErNAl rEsourCEs or rElEvANt ExpErtisE 7.52%uNCErtAiNty ovEr wHAt CoNstitutEs AN oECD CoMpliANt DuE DiliGENCE frAMEwork 3.01%

our pEErs will bE AHEAD of us iN tHEir CoMpliANCE Efforts 0.75%NGo, sHArEHolDEr, CustoMEr, CoNsuMEr or “GrAss roots”prEssurE or AttENtioN 1.50%

otHEr 4.51%


32

166

22

20

8

2

4

12



ASSENTCOMPLIANCE

Q11 what has been the greatest Difficulty so far with respect to your conflict minerals program? (although all liKely apply, please choose the one which represents the greatest Difficulty in your opinion):



GEttiNG our CoMpliANCE proGrAM stArtED 13.43%

GEttiNG iNtErNAl CoopErAtioN witHiN our orGANizAtioN 8.96%

EstAblisHiNG A buDGEt AND tiMEtAblE 2.24%

DEtErMiNiNG sCopE 11.19%workiNG witH it systEMs to ExtrACt/CollAtE iNtErNAl DAtA AND CoNDuCt our suppliEr iNQuiry 8.21%

obtAiNiNG suppliEr rEspoNsEs 35.82%

EvAluAtiNG suppliErs rEspoNsEs/CoNDuCtiNG DuE DiliGENCE 12.69%

otHEr 7.46%


36

24

6

30

22

96

34

20


11/12

13.43% 18

8.96% 12

2.24% 3

11.19% 15

8.21% 11

35.82% 48

12.69% 17

7.46% 10

Q11Whathasbeenthegreatestdifficultysofarwithrespecttoyour

ConflictMineralsprogram?(Althoughalllikelyapply,pleaseChoosetheonewhichrepresentsthegreatestdifficultyinyour

opinion):


0% 20% 40% 60% 80% 100%

Gettingourcomplianceprogram...

Gettinginternal

cooperatio...

Establishingabudgetand

timetable

DeterminingScope

WorkingwithITsystemstoextract/co...

Obtainingsupplier

responses

Evaluatingsuppliers

responses/...


Gettingourcomplianceprogramstarted

Gettinginternalcooperationwithinourorganization

Establishingabudgetandtimetable

DeterminingScope

WorkingwithITsystemstoextract/collateinternaldataandconductoursupplierinquiry

Obtainingsupplierresponses

Evaluatingsuppliersresponses/conductingduediligence


TotalTotal 134134




ASSENTCOMPLIANCE

AssENt survEy rEsults—ANAlysisissuers vs. non-issuers•NonIssuersaregenerallysmaller

•Non–Issuersmakeupalargerproportionofcompanieswhohavenotbegunpreparations

• 1/3havenoworkinggroupandanother25%havea1personteam

•Virtuallynooutsidecounsel(3%)andlittleoutsideconsultingcomparedtoissuers(20%)



ASSENTCOMPLIANCE

AssENt survEy rEsults—ANAlysiscompanies who have been prepareD for >1 year• Fairsplitbetweenissuersandnon-issuers,sizeofcompanyandindustry

•HigherproportionlookingtousetheEICCform

•Havemadefurtherprogress

•AretwiceaslikelytoviewLackofClarityintherulesasahigherriskthanLackofSupplierKnowledge



ASSENTCOMPLIANCE

AssENt survEy rEsults—ANAlysislooKing at Different inDustries•Aerospace & Automotive & Industrial

•Majorityarelarge,listedandprepared

• Largerteamsandusing3rdpartysupport

•Gettingprogramstartedandconductingduediligenceviewedasabiggerproblemcomparedtoobtainingresponsesfromsuppliers

•Electrical & Electronics

• Smallercompaniesbutover85%havebeenpreparingforatleast6months(and50%for1yearormore)

•Haveprogressedfurtherdownthepathofcompliance(majorityhaveatleastbegunorcompletedtheirfirstpassRCOI)

•OverwhelminglyuseEICCtemplate

•CommunicatingwithSupplyChainisthegreatestproblem



ASSENTCOMPLIANCE

•Defense

•Overall thebestpreparedandprogressed(notasinglecompanyidentifiedasnothavingbeguntheirefforts).

•Usesmostamountof3rdpartysupport

•Retail

•MajorityNOTusingEICC

•Hasthehighestproportionofcompanieseitherunpreparedorintheearliestphasesofadoption

•Usingaproportionatelyhighamountof3rdpartysupport

•Obtainingsupplierresponsesviewedasonthe5thgreatestobstacle



ASSENTCOMPLIANCE

lEssoNs lEArNED1. Preparedness is the key

a. Thedataconsistentlyshowsapositiveknockoneffectonallotheraspectsofacompany’sprocess

b. Itisveryhardtoreplacetime

2. A standard form such as the EICC is good but a Custom form may have its uses depending on your industry

a. BotharesuperiortoasimpleDOC

3. Use a Risk-based approach

a. Helpsalignyourinternalprocesses,providesdirectionandactsasproofofDueDiligence

4. Your biggest risk will come from smaller, non-issuers

a. Generallylessprepared

a. Lessformalizedinternalprocesses

5. The size of your team should be somewhat proportionate to the size of your company

a. Evenmidandlowercapswillhaveahardtimecomplyingwithateamof1



ASSENTCOMPLIANCE

tHE futurE of CoNfliCt MiNErAls•NAM Lawsuit

• LikelynodecisionuntilQ4

• Impactlikelynegligible

•ConflictMineralsisheretostaybeitthroughregulationorbusinessrequirements

•Other Conflict Minerals regulations

• “CanadianConflictMinerals”IE:BillC-486

•EUConflictMineralsInitiative

•“Enforcement”

•Nolegalenforcement–thisismostlynamingandshaming

•NGO’scancallyouout

• YoucouldfailanauditofyourCMR(ifyourequireanIPSA)



ASSENTCOMPLIANCE

QuEstioNs?PleasesubmityourquestionsinwritingusingtheQ&Atoolalongthetopmenutoolbar.

Any questions not addressed during the Q&A portion of this webinar will be addressed in privatecorrespondenceafterthewebinarandinanFAQdocumentpostedtotheAssentComplianceWebinarspage.

assentcompliance · compliance amongst the top environmental compliance solutions in the world and...

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