Sec. 10. Disclosures to the Securities and Exchange Commission of certain activities related to the Xinjiang Uyghur Autonomous Region
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It is the policy of the United States— to protect United States investors, though stronger disclosure requirements, alerting them to the presence of Chinese and other entities complicit in gross violations of human rights in United States capital markets, including United States and foreign entities that are listed on United States exchanges and enable the mass internment and population surveillance of Uyghurs, Kazakhs, Kyrgyz, and other Muslim minorities in the Xinjiang Uyghur Autonomous Region of the People's Republic of China or source products made with forced labor from that region; and that such complicity represents a clear, material risk to the share values and corporate reputations of those entities and therefore also to prospective United States investors, particularly given that the United States Government has imposed sanctions and export restrictions to target persons contributing to human rights abuses in the People’s Republic of China.
Section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ) is amended by adding at the end the following new subsection: Each issuer required to file an annual or quarterly report under subsection
(a)shall disclose in that report the information required by paragraph
(2)if, during the period covered by the report, the issuer or any affiliate of the issuer— knowingly engaged in an activity with an entity or the affiliate of an entity engaged in creating or providing technology or other assistance to create mass population surveillance systems in the Xinjiang Uyghur Autonomous Region of the People's Republic of China, including any entity operating in the Xinjiang Uyghur Autonomous Region and on the entity list maintained by the Bureau of Industry and Security and set forth in Supplement No. 4 to part 744 of title 15, Code of Federal Regulations; knowingly engaged in an activity with an entity or the affiliate of an entity building and running detention facilities for Uyghurs, Kazakhs, Kyrgyz, and members of other Muslim minority groups in the Xinjiang Uyghur Autonomous Region; knowingly, directly or indirectly, engaged with an entity or the affiliate of an entity to purchase or otherwise acquire significant types or amounts of textiles made from material produced or manufactured in the Xinjiang Uyghur Autonomous Region; knowingly engaged in an activity with an entity or the affiliate of an entity described in section 5(c)(2) of the Uyghur Forced Labor Prevention Act , including— any entity engaged in the mutual pairing assistance program, which subsidizes the establishment of manufacturing facilities in the Xinjiang Uyghur Autonomous Region; or any entity for which U.S. Customs and Border Protection has issued a withhold release order pursuant to section 307 of the Tariff Act of 1930 ( 19 U.S.C. 1307 ); or knowingly conducted any transaction or had dealings with— any person the property and interests in property of which were blocked by the Secretary of the Treasury for the detention or abuse of Uyghurs, Kazakhs, Kyrgyz, and other Muslim minorities in the Xinjiang Uyghur Autonomous Region; any person the property and interests in property of which are blocked pursuant to the Global Magnitsky Human Rights Accountability Act (subtitle F of title XII of Public Law 114–328 ; 22 U.S.C. 2656 note); or any person responsible for, or complicit in, committing atrocities in the Xinjiang Uyghur Autonomous Region. If an issuer or an affiliate of the issuer has engaged in any activity described in paragraph (1), the issuer shall disclose a detailed description of each such activity, including— the nature and extent of the activity; the gross revenues and net profits, if any, attributable to the activity; and whether the issuer or the affiliate of the issuer (as the case may be) intends to continue the activity. If an issuer reports under paragraph
(1)that the issuer or an affiliate of the issuer has knowingly engaged in any activity described in that paragraph, the issuer shall separately file with the Commission, concurrently with the annual or quarterly report under subsection (a), a notice that the disclosure of that activity has been included in that annual or quarterly report that identifies the issuer and contains the information required by paragraph (2). Upon receiving a notice under paragraph
(3)that an annual or quarterly report includes a disclosure of an activity described in paragraph (1), the Commission shall promptly— transmit the report to— the President; the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives; and make the information provided in the disclosure and the notice available to the public by posting the information on the internet website of the Commission. Upon receiving a report under paragraph
(4)that includes a disclosure of an activity described in paragraph (1), the President shall— make a determination with respect to whether— any investigation is needed into the possible imposition of sanctions under the Global Magnitsky Human Rights Accountability Act (subtitle F of title XII of Public Law 114–328 ; 22 U.S.C. 2656 note); or any criminal investigation is warranted under a provision of law intended to hold accountable individuals or entities involved in the importation of goods produced by forced labor, including under section 1589 or 1761 of title 18, United States Code, or section 545 of that title; and not later than 180 days after initiating any such investigation, make a determination with respect to whether sanctions should be imposed or criminal proceedings initiated, as the case may be, with respect to the issuer or the affiliate of the issuer. The provisions of this subsection shall terminate on the date that is 30 days after the date on which the President makes the certification described in section 7(f) of the Uyghur Forced Labor Prevention Act . In this section, the term mass population surveillance system means installation and integration of facial recognition cameras, biometric data collection, mobile phone surveillance, and artificial intelligence technology with the Sharp Eyes and Integrated Joint Operations Platform or other technologies that are used by the security forces of the People's Republic of China for surveillance and big-data predictive policing. . The amendment made by subsection
(a)shall take effect with respect to reports required to be filed with the Securities and Exchange Commission after the date that is 180 days after the date of the enactment of this Act.
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Sec. 10
Disclosures to the Securities and Exchange Commission of certain activities related to the Xinjiang Uyghur Autonomous Region
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