Sec. 3. Disclosure of certain activities relating to the Xinjiang Uyghur Autonomous Region
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/bill/118/hr/4840/ih/section-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ) 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 each issuer required to file an annual report under this section or section 15(d) or a proxy statement under section 14 to disclose in each such report or proxy statement whether, during the period covered by the report or proxy statement— the issuer or any affiliate of the issuer, directly or indirectly, engaged with an entity or the affiliate of an entity to use or source 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; all products listed as high-priority sectors for enforcement by the Forced Labor Enforcement Task Force pursuant to Public Law 117–78 ; and all products exported from the People’s Republic of China into the United States that are listed by mandate of section 2(d)(2)(B)(iv) of Public Law 117–78 that are sourced from or through the XUAR; or with respect to any goods, wares, articles, or merchandise described under subparagraph (A), whether the goods, wares, articles, or merchandise have supply chain links to facilities that employ forced labor; with respect to each good, ware, article, and merchandise described under subparagraph (A)— the nature and extent of the commercial activity related to the good, ware, article, or merchandise; the gross revenue and net profits, if any, attributable to the good, ware, article, or merchandise; the alternative sourcing options for the good, ware, article, or merchandise, while protecting proprietary information of the issuer and any other cited business; a description of the measures taken by the issuer to exercise due diligence on the source and chain of custody of the good, ware, article, or merchandise; and other entities and facilities affiliated with the facility employing forced labor, including the physical location of such facilities and of the supplier entity’s headquarters; and the issuer or any affiliate of the issuer, directly or indirectly, was involved in the development or provision of surveillance goods, services, or technologies (including telecommunications, information security, and sensors) used to facilitate gross human rights abuses.
The Commission shall make all information disclosed pursuant to this subsection available to the public on the website of the Commission. In this subsection, the terms forced labor and XUAR have the meaning given those terms, respectively, under section 12(m)(8). . 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. 3
Disclosure of certain activities relating to the Xinjiang Uyghur Autonomous Region
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