The President should use his authority under Dodd-Frank to require companies to disclose the origins of any diamonds they sell. Consumers should be able to choose not to purchase stones that fund corruption and that prop up regimes that facilitate murder, rape, slavery, and disenfranchisement.
While the Kimberley Process tried to address the problem, its focus on civil wars means it ignores the real sources of Blood Diamonds in today's world, and efforts to reform it have unfortunately failed.
The President should use 15 USC § 78m(p)(3) to instruct the SEC to revise its conflict minerals rules to add diamonds to the list of conflict minerals and require any product containing diamonds to be labeled with the country and mine from which the diamonds originate.