A bipartisan group of two dozen lawmakers is asking the Securities and Exchange Commission to put the brakes on an initial public offering by Chinese fast...
NEW YORK — A bipartisan group of two dozen lawmakers is asking the Securities and Exchange Commission to put the brakes on an initial public offering by Chinese fast fashion retailer Shein until it verifies it does not use forced labor from the country’s predominantly Muslim Uyghur population.
The... NEW YORK — A bipartisan group of two dozen lawmakers is asking the Securities and Exchange Commission to put the brakes on an initial public offering by Chinese fast fashion retailer Shein until it verifies it does not use forced labor from the country’s predominantly Muslim Uyghur population.
The letter also comes a few weeks after the launch of an anonymous coalition of “like-minded individuals and businesses” called “Shut Down Shein,” which is aiming to increase scrutiny on the company in Washington and ultimately get it booted out of the U.S. marketplace. In the letter sent to SEC Chair Gary Gensler, lawmakers cited a Bloomberg report from November that said some garments shipped to the U.S. by Shein were made of cotton from China’s Xinjiang region. They’re asking the SEC to certify via “independent verification” that the company does not use Uyghur forced labor.
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