What are the key regulations on supply chain transparency?
An example of an AI chatbot conversation about regulations on supply chain transparency.
What are the key regulations on supply chain transparency?
Key regulations include the Dodd-Frank Act, the EU's Supply Chain Due Diligence Directive, and California's SB 657.
How do these regulations impact businesses?
They require businesses to disclose their supply chain practices, ensuring ethical sourcing and reducing risks.
What penalties do companies face for non-compliance?
Penalties can include fines, legal action, and damage to reputation, which can affect sales and partnerships.
Are there any resources for companies to understand these regulations better?
Yes, organizations like the OECD and various industry associations provide guidelines and resources for compliance.
Can small businesses also be affected by these regulations?
Absolutely, small businesses must comply if they are part of a larger supply chain or meet certain revenue thresholds.
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