Sec. 2. Certification of certain activities relating to the Xinjiang Uyghur Autonomous Region as procedure for registration of securities on an exchange
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Section 12 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78l ) is amended by adding at the end the following: Not later than the end of the 180-day period beginning on the date of enactment of this subsection, the Commission shall issue rules— to require an issuer filing an application to register a security with a national securities exchange to— include in such application the documentation described under paragraph (2); and to file the application and documentation with the Commission; to require an issuer to file a report with the Commission containing the documentation described under paragraph
(2)if the issuer is not listed on an exchange and merges with another issuer that is listed on the exchange; and to require an issuer filing a registration statement under subsection
(g)to include with such statement the documentation described under paragraph (2). With respect to an issuer, the documentation described under this paragraph is documentation showing whether the issuer or any affiliate of the issuer, directly or indirectly, contains within its supply or production chain— goods, wares, articles, or merchandise sourced from or through the XUAR, or mined, produced, or manufactured wholly or in part by forced labor identified by mandate of section 2(d)(2)(B)(iv) of Public Law 117–78 , including— the industries contained on the Illustrative List of Industries in Xinjiang in which Public Reporting has indicated Labor Abuses may be Taking Place in Annex 2 of the Xinjiang Supply Chain Business Advisory (published July 13, 2021) and any successor list; and all products listed within high-priority sectors for enforcement by the Forced Labor Enforcement Task Force pursuant to Public Law 117–78 ; or goods, wares, articles, or merchandise that are mined, produced, or manufactured by an entity engaged in labor transfers from the XUAR or forced labor. In issuing rules under paragraph (1), the Commission shall require an issuer to list the name (in English and in the most commonly-spoken language of the country in which the issuer is incorporated, if other than English), address, and sourcing quantities from each smelter, refinery, farm, or manufacturing facility (as appropriate) of each person mining, producing, or manufacturing a good, ware, article, or merchandise described under paragraph (2). In issuing rules under paragraph (1), the Commission shall require an issuer— to obtain independent verification of the documentation described under paragraph (2), by a third-party auditor approved by the Commission, before the filing of an application, report, or registration statement containing such documentation; to maintain the confidentiality of the identity of such third-party auditor, unless the auditor proactively waives confidentiality; and to establish policies to respond to any reprisals against the third-party auditor. The Commission shall make all documentation received under this subsection available to the public. In addition to other penalties provided under this Act, with respect to an application described under paragraph (1)(A), if an issuer fails to comply with the requirements of this subsection (including any misrepresentation of the information described under paragraph (3))— the applicable national securities exchange may not approve such application; and the issuer may not re-file the application for 1 year. In this subsection: The term forced labor means— any labor carried out by the Uyghur, Kazakh, Kyrgyz, or another oppressed ethnic group in the People’s Republic of China under any State-sponsored labor program, including any program associated with surplus labor transfer , poverty alleviation , mutual aid , Xinjiang Aid , and re-education programs targeting minoritized citizens of the XUAR, whether inside or outside; any labor carried out in the XUAR unless the specific labor has been identified by the United States authorities under existing forced labor and the Uyghur protection laws as not involving the use of forced labor; and any use of convict labor, forced labor, or indentured labor described under section 307 of the Tariff Act of 1930 ( 19 U.S.C. 1307 ). The term XUAR means the Xinjiang Uyghur Autonomous Region. . The amendment made by this section shall be repealed on the earlier of— the date that is 8 years after the date of the enactment of this section; or the date on which the President submits to Congress (including the Office of the Law Revision Council) a determination that the Government of the People’s Republic of China has ended mass internment, forced labor, and any other gross violations of human rights experienced by Uyghurs, Kazakhs, Kyrgyz, and members of other persecuted groups in the Xinjiang Uyghur Autonomous Region.
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Sec. 2
Certification of certain activities relating to the Xinjiang Uyghur Autonomous Region as procedure for registration of securities on an exchange
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