To amend the Securities Exchange Act of 1934 to require issuers to make disclosures related to supply chain disruption risk, and for other purposes.

Bill: 116-hr-6375
Sponsor: full_name: Rep. Velazquez, Nydia M. [D-NY-7]
Introduced: 2020-03-23
Policy area: Finance and Financial Sector
Subjects: Atmospheric science and weather

Business records

Conflicts and wars

Corporate finance and management

Government information and archives

Infectious and parasitic diseases

Manufacturing

Natural disasters

Refugees, asylum, displaced persons

Retail and wholesale trades

Securities

Wages and earnings

Worker safety and health
Latest action: action_date: 2020-03-23
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2020-03-23
action_desc: Introduced in House
text: <p>This bill requires certain issuers of securities to report to the Securities and Exchange Commission on the risks faced by the issuer regarding supply-chain disruption and the issuer's continuity or contingency plans to mitigate these risks.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6375 IN THE HOUSE OF REPRESENTATIVES March 23, 2020 Ms. Velázquez introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Exchange Act of 1934 to require issuers to make disclosures related to supply chain disruption risk, and for other purposes.

1. Disclosures related to supply chain disruption risk Section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ) is amended by adding at the end the following: (s) Disclosures related to supply chain disruption risk (1) In general Each issuer required to file an annual report under subsection (a) shall disclose in that report— (A) an identification of— (i) the risks in the issuer’s sourcing of goods, labor, services, and other supply chain related matters, including— (I) risks of dependency upon sole sourcing arrangements or sourcing concentrated in one geographic locality; (II) shipping risks; and (III) risks arising from natural disasters, pandemics, extreme weather, armed conflicts, refugee and related disruptions, trade conflicts or disruptions, and labor wage, safety, and health care practices; and (ii) the impacts any risk or disruption identified in clause (i) would have on the issuer’s workforce, suppliers, and customers; (B) the issuer’s business continuity or other contingency plans that will be implemented in the case of a supply chain disruption in order to mitigate such risks and impacts; and (C) all other material information. (2) Updates Disclosures required under this subsection shall be updated when there are material changes. .