Page:United States Statutes at Large Volume 124.djvu/2243

 124 STAT. 2217 PUBLIC LAW 111–203—JULY 21, 2010 (A) An assessment of the effectiveness of section 13(p) of the Securities Exchange Act of 1934, as added by sub- section (b), in promoting peace and security in the Demo- cratic Republic of the Congo and adjoining countries. (B) A description of issues encountered by the Securi- ties and Exchange Commission in carrying out the provi- sions of such section 13(p). (C)(i) A general review of persons described in clause (ii) and whether information is publicly available about— (I) the use of conflict minerals by such persons; and (II) whether such conflict minerals originate from the Democratic Republic of the Congo or an adjoining country. (ii) A person is described in this clause if— (I) the person is not required to file reports with the Securities and Exchange Commission pursuant to section 13(p)(1)(A) of the Securities Exchange Act of 1934, as added by subsection (b); and (II) conflict minerals are necessary to the functionality or production of a product manufactured by such person. (3) REPORT ON PRIVATE SECTOR AUDITING.—Not later than 30 months after the date of the enactment of this Act, and annually thereafter, the Secretary of Commerce shall submit to the appropriate congressional committees a report that includes the following: (A) An assessment of the accuracy of the independent private sector audits and other due diligence processes described under section 13(p) of the Securities Exchange Act of 1934. (B) Recommendations for the processes used to carry out such audits, including ways to— (i) improve the accuracy of such audits; and (ii) establish standards of best practices. (C) A listing of all known conflict mineral processing facilities worldwide. (e) DEFINITIONS.—For purposes of this section: (1) ADJOINING COUNTRY.—The term ‘‘adjoining country’’, with respect to the Democratic Republic of the Congo, means a country that shares an internationally recognized border with the Democratic Republic of the Congo. (2) APPROPRIATE CONGRESSIONAL COMMITTEES.—The term ‘‘appropriate congressional committees’’ means— (A) the Committee on Appropriations, the Committee on Foreign Affairs, the Committee on Ways and Means, and the Committee on Financial Services of the House of Representatives; and (B) the Committee on Appropriations, the Committee on Foreign Relations, the Committee on Finance, and the Committee on Banking, Housing, and Urban Affairs of the Senate. (3) ARMED GROUP.—The term ‘‘armed group’’ means an armed group that is identified as perpetrators of serious human rights abuses in the annual Country Reports on Human Rights Practices under sections 116(d) and 502B(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 2151n(d) and 2304(b)) relating