TASK Act

S 864, the TASK Act, requires the Securities and Exchange Commission to mandate reporting by publicly traded U.S. companies with operations in China. It directly affects these companies by requiring them to disclose: (1) supply chain sourcing linked to products imported from Xinjiang using forced labor; (2) transactions with companies on U.S. government blacklists (like the Commerce Department’s Entity List or Treasury’s Chinese Military-Industrial Complex list); and (3) annual details about whether Chinese Communist Party committees operate in their Chinese facilities and the committee’s role in business decisions. The bill creates specific, annual disclosure obligations focused on supply chain transparency and foreign ownership ties. This policy change shifts reporting requirements to address specific supply chain and foreign entity risks.