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Keeping you informed on SBA Form 1502 Reporting. This bulletin outlines changes to the prime rate affecting variable rate SBA 7(a) loans and provides specific advice and examples for reporting these
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What is 1502 Bulletin?
The 1502 Bulletin is a regulatory document issued by the U.S. Securities and Exchange Commission (SEC) that outlines the reporting requirements related to the disclosure of the use of conflict minerals, including tantalum, tin, gold, and tungsten, originating from specific regions.
Who is required to file 1502 Bulletin?
Publicly traded companies and certain other entities that use conflict minerals in their products are required to file the 1502 Bulletin as part of their annual reports.
How to fill out 1502 Bulletin?
To fill out the 1502 Bulletin, companies must provide detailed information about the sources of their conflict minerals, the due diligence processes they have in place, and the steps they take to ensure their supply chains are free from conflict minerals associated with human rights abuses.
What is the purpose of 1502 Bulletin?
The purpose of the 1502 Bulletin is to promote transparency in the supply chain of conflict minerals, to inform consumers and investors about companies' sourcing practices, and to reduce the funding of armed groups involved in human rights violations in conflict regions.
What information must be reported on 1502 Bulletin?
Companies must report information regarding the origin of conflict minerals, their efforts in conducting due diligence on their supply chains, whether the minerals are 'conflict free', and the measures taken to mitigate risks of sourcing conflict minerals.
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