US lawmakers push the SEC to order audit of Shein IPO over Uyghur forced labor fears

NEW YORK, May 1 (Reuters) – A bipartisan group of two dozen U.S. representatives was calling for the Securities and Exchange Commission to halt the initial public offering of Chinese-founded fast-fashion giant Shein until it verifies it does not use forced labor, according to a letter seen by Reuters.The U.S. lawmakers want the SEC to mandate Shein to independently audit and verify “that the company does not use Uyghur forced labor as a condition of being registered to issue securities in the United States,” the letter said.Sources have said Shein is eyeing an IPO in the U. …
Read more…….