washington top republican u.s. securities exchange commission tuesday take first step toward scale back controversial conflict minerals rule require company trace whether products contain minerals war-torn part africa first major action since become act sec chair early month michael piwowar announce direct agency staff reconsider company comply rule whether additional relief requirements necessary piwowar action come one day president donald trump sign executive order aim slash government regulations white house say order apply independent agencies like sec however independent agencies often try voluntarily follow spirit order conflict minerals rule require manufacturers apple inc general electric co tell investors products contain certain minerals war-torn democratic republic congo one several sec disclosure rule require 2010 dodd-frank law republicans business group long seek repeal say force company furnish politically charge information irrelevant make investment decisions another disclosure rule hat many company also dodd-frank resource extraction rule force oil gas company disclose payments foreign governments republicans u.s. house representatives slat vote measure repeal resource extraction rule wednesday case republicans seek repeal congressional review act allow congress stop recently adopt regulations simple majority vote conflict minerals rule repeal congressional review act law apply rule adopt since end may however sec staff issue interpretive guidance scale back requirements aggressive move staff choose enforce piwowar say sec solicit comment public whether sec staff update guidance compliance dodd-frank law also contain language would let trump order sec temporarily suspend conflict minerals rule two years might harm national security piwowar ask president take step however raise national security concern pose rule say do nothing help humanitarian crisis africa act sec chair seek scale back 'conflict minerals rule