Why There Needs To Be A SEC (Securities Exchange Commission) for the Electronics Recycling Industry.

Why There Needs To Be A SEC (Securities Exchange Commission) for the Electronics Recycling Industry.

Why There Needs To Be A Electronics Recycling Exchange Commission

The Electronics Recycling Exchange Commission (EREC) would be to protect individuals; maintain fair, orderly, and efficient markets; and facilitate environmental regulation.

 

The enforcement authority would need to come from Congress and enable the EREC to bring civil enforcement actions against individuals or companies alleged to have committed recycling fraud, provided false information, or engaged in illegal recycling or other violations of environmental law. The EREC also would work with criminal law enforcement agencies to prosecute individuals and companies alike for offenses that include a recycling violation.

 

Research shows that 75 percent of used hard drives sold online contain personal information including credit cards and social security numbers. A large portion of these are from so called electronics recyclers that just pull them out of computers and test them and then sell them online. This is a widespread problem. The EREC could bring penalties to recyclers and individuals who do not destroy the data.

 

In addition to the EREC, the workers in the industry would need to have certification to work in the industry similar to that stock traders in the financial industry and regulation of the SEC (Securities Exchange Commission). To many times I have spoken to so called recycling experts at electronics recycling companies and they do not have an in-depth knowledge of electronics recycling and even say things that are not accurate. Sales people often make promises about electronics recycling and data destruction that they know the company they work for will not keep. With an industry license to sell electronics recycling services the sales person and the company would have to comply with the regulation and one could not over rule the other without penalties for both.

 

With so many electronics recycling companies going bankrupt and the damage they do to the industry Congress needs to act. Industry watch dogs like e-Stewards and R2:2013 are doing there best to keep electronics from going to China dumps but are expensive and may have limited civil enforcement.

 

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