TASK Act

This bill (S 1358, the TASK Act) requires the Securities and Exchange Commission (SEC) to mandate specific reporting for publicly traded U.S. companies with operations in China or supply chains linked to Xinjiang, China. It directs companies to report on: (1) supply chain sourcing checks for products imported from Xinjiang using forced labor; (2) transactions with companies sanctioned by Commerce or Treasury (e.g., military-linked firms); and (3) annual disclosures about Chinese Communist Party committees in their China operations and related decisions. The reporting aims to increase transparency around supply chain risks and ties to sanctioned entities, as part of the SEC’s evaluation of ESG (environmental, social, governance) disclosure guidance. It directly affects U.S. companies operating in China or sourcing goods from Xinjiang.