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11 Aug 2015

Sarah Altschuller, CSR and the Law by Foley Hoag

USA: Bill introduced in Congress calling for transparency on trafficking & slavery in corporate supply chains

"H.R. 3226: New Bill Calls for Transparency on Trafficking and Slavery in Corporate Supply Chains", 4 Aug 2015

In late July, Representative Carolyn Maloney (D-NY) introduced H.R. 3226, the Business Supply Chain Transparency on Trafficking and Slavery Act of 2015. The bill, if passed, would require companies to file annual reports with the Securities and Exchange Commission (“SEC”) disclosing their efforts to identify and address specific human rights risks in their supply chains. Senator Richard Blumenthal (D-CT) is expected to introduce a companion bill in the Senate. The proposed federal legislation…would apply to companies with annual worldwide gross receipts exceeding one hundred million dollars. If enacted, the legislation would require the SEC to issue regulations requiring companies to disclose whether they have taken any measures to identify and address the risks of forced labor, slavery, human trafficking, and the worst forms of child labor throughout their supply chains.