In comments in response to a proposed rule from the U.S. Securities and Exchange Commission on provision 1503 of the Dodd-Frank bill on financial reform, NSSGA asserted that a new mandate for publicly-traded companies to include in future SEC reports mine safety and compliance data would be duplicative and unduly burdensome.
The comments set out both the industry’s demonstrated commitment to worker safety and health, and historically low rate of injuries and number of operator fatalities. Accordingly, the comments urged the commission to exclude aggregates from SEC reporting.
Additionally, the comments stated that all data required for compliance with the proposal already exists on the website maintained by the MSHA.
Further, NSSGA stated disappointment that the proposal requires the reporting of data on citations issued versus citations that have been fully adjudicated, and asserted that due-process rights demand that any review be complete before a matter is considered final and, in this case, reportable.
Also, NSSGA asserted that some relief on this should come from President Obama’s January Executive Order on "Improving Regulation and Regulatory Review," which stated that, "Where relevant...each agency shall identify and consider regulatory approaches that reduce burdens and maintain flexibility and freedom of choice for the public."
Finally, NSSGA offered suggestions – in the event that the comments are rejected – for the SEC to accept aggregates industry input with the least intrusive reporting procedures.