Transaction and Sourcing Knowledge Act mandates SEC reporting on forced labor and Chinese Communist Party influence in company supply chains.
The Transaction and Sourcing Knowledge Act, or TASK Act, requires the Securities and Exchange Commission to mandate reporting on sourcing and due diligence activities of companies involving supply chains linked to forced labor in Xinjiang, China. It also requires reporting on transactions with companies on the Entity List or designated as Chinese Military-Industrial Complex Companies. Additionally, publicly traded U.S. companies with facilities in China must report annually on the presence of Chinese Communist Party committees and their influence on corporate decisions.
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