SEC Adopts New Mine Safety and Health Disclosures Pursuant to Dodd-Frank
Posted on December 23, 2011, by admin, under Law.
By Todd Genger
Under Section 1503 of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, the United States Securities and Exchange Commission (“SEC”) are now requiring mining companies to include information about mine safety and health in the quarterly and annual reports they file with the SEC. The Federal Mine Safety and Health Act of 1977 (the “Mine Act”) is administered by the Mine Safety and Health Administration (the “MSHA”), shares Todd Genger. The new Dodd-Frank Act disclosure requirements are based on the safety and health requirements that apply to mines that fall under the jurisdiction of the federal agency.
According to Todd Genger, investors should be aware that companies will be required to file a Form 8-K within four business days following receipt of a notice from MSHA of an “imminent danger” order under section 107(a) of the Mine Act; notice of a pattern of violations under section 104(e) of the Mine Act, or notice of the potential to have a pattern of such violations.
