UK: Human rights group calls on regulator to block Shein’s attempt to list on the London Stock Exchange over forced labour accusations in the company’s China-based cotton supply chain
UK: Human rights group calls on regulator to block Shein’s attempt to list on the London Stock Exchange over forced labour accusations in the company’s China-based cotton supply chain
www.retail-week.com Human rights group calls on regulator to block Shein’s London IPO
A UK-based human rights group is calling on the Financial Conduct Authority to refuse Shein's application to list on the London Stock Exchange.
- The NGO 'Stop Uyghur Genocide' is urging the financial regulator to refuse the application on legal grounds. The group said that minority Uyghur people in China are being used for forced labour in Shein’s Xingjiang-based cotton supply chain.
- A letter to the British Financial Conduct Authority (FCA) said allowing the business to list would be “inconsistent with the UK’s obligations to the United Nations body, International Labour Organisation, which protects labour standards across organisations”.
- UK businesses have to publish a statement every year that lays out steps they have taken to ensure slavery and trafficking aren’t taking place within the organisation’s supply chain or operations, under the Modern Slavery Act.
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