Require financial disclosures from U.S. publicly traded businesses about their engagement with Chinese companies and other entities engaged in mass surveillance, mass interment, forced labor and other serious human rights abuses in the XUAR;
I will work to require U.S. publicly traded companies to disclose engagement with Chinese entities involved in surveillance, internment, forced labor, and other serious human rights abuses in Xinjiang.
Occurrences
Evidence
Congress.gov lists H.R.1155 as sponsored by Rep. James P. McGovern, introduced February 18, 2021, passed by the House 428-1 on December 8, 2021, and later only received in the Senate on December 22, 2022. The CRS summary says the House-passed bill would require securities issuers filing SEC annual or quarterly reports to disclose certain Xinjiang-related activities, including work with entities building detention facilities or surveillance systems.
Section 9 of the House-passed H.R.1155 was titled SEC disclosures for certain Xinjiang activities. It would amend securities law so each covered issuer must disclose report-period activity with entities involved in mass population surveillance systems, detention facilities for Uyghurs and other Muslim minorities, listed forced-labor entities, sanctioned persons, or entities responsible for atrocities in Xinjiang.
Congress.gov lists H.R.6256 as sponsored by Rep. James P. McGovern, introduced December 14, 2021, passed the House by voice vote that day, passed the Senate by unanimous consent on December 16, 2021, and became Public Law 117-78 on December 23, 2021. The public-law summary covers import limits, entity lists, rebuttable presumption, sanctions, and State Department reporting, but not SEC issuer disclosure.
The enacted public law sets U.S. policy against forced-labor imports, requires an enforcement strategy with entity and product lists, creates a rebuttable import-ban presumption for Xinjiang goods or listed entities, requires State Department strategy reporting, and adds sanctions for serious human rights abuses connected to forced labor. The final law proceeds to definitions and approval after those sections, with no SEC issuer-disclosure section.
Congress.gov records H.R.6270, sponsored by Rep. Jennifer Wexton, as a securities-disclosure bill requiring issuers to publicly disclose activities related to Xinjiang, including sourced goods and whether goods or materials came from forced labor camps. It passed the House 253-163 on September 30, 2020, then was referred to the Senate Banking Committee on October 1, 2020, with no enactment recorded.
Assessments
McGovern made a serious federal legislative effort: he sponsored H.R.1155, which passed the House with an SEC disclosure section closely matching the promise. However, that issuer-disclosure requirement did not become law. The enacted Uyghur Forced Labor Prevention Act, also sponsored by McGovern in compromise form, addressed Xinjiang forced labor, import restrictions, enforcement strategy, reporting, and sanctions, but omitted the promised public-company disclosure mandate. Because the specific promised requirement was attempted but not delivered, this is a failed delivery with effort credit.