Sponsors (14)
The bill increases transparency and enforcement to reduce U.S. market ties to forced labor and abusive surveillance practices—strengthening human‑rights protections and investor information—at the cost of substantial compliance, privacy/commercial exposure risks, and added regulatory burdens for companies and taxpayers.
Investors, consumers, and the public will gain clearer, mandatory disclosure of issuer ties to the XUAR and forced‑labor supply chains, enabling more informed investment and purchasing decisions.
Companies and market participants will be incentivized to strengthen due diligence and shift to ethical suppliers, reducing demand for goods linked to forced labor and lowering reputational/national‑security risks for U.S. markets.
Investors will benefit from stronger enforcement because the SEC will assess issuer compliance annually, improving transparency and increasing the likelihood that firms follow the disclosure/certification rules.
Public companies and their investors will face significant new compliance costs (supply‑chain tracing, third‑party verification, expanded SEC reviews), which can raise business costs and ultimately consumer prices.
Public disclosure of supplier names, locations, and facility details could expose commercially sensitive information and create privacy/security risks for named workers and suppliers.
A broad rule that treats all labor in the XUAR as forced unless explicitly exempted risks over‑inclusion, disrupting legitimate commerce and deterring otherwise lawful investment and trade.
Based on analysis of 4 sections of legislative text.
Requires SEC rules forcing issuers to disclose and verify any ties to Xinjiang or forced-labor-produced goods for listings and public filings, with public posting and an 8-year sunset or earlier presidential certification.
Official title: To amend the Securities Exchange Act of 1934 to require issuers to make certain disclosures relating to the Xinjiang Uyghur Autonomous Region, and for other purposes.
Introduced May 7, 2026 by Suhas Subramanyam · Last progress May 7, 2026
Requires the SEC to adopt rules forcing issuers to disclose and document any ties to the Xinjiang Uyghur Autonomous Region (XUAR) or goods produced with forced labor as a condition for listing on a national securities exchange and in periodic filings. The bill mandates detailed supply-chain disclosures, third-party independent verification before filings, public posting of disclosed materials, SEC audits of compliance, and GAO evaluations; the requirements sunset after 8 years or earlier if the President certifies abuses in Xinjiang have ended.