Caption: Fast fashion firm Shein should be stopped from listing on the London Stock Exchange campaigners say. Photo: Edgar Su/ ReutersA human rights group has launched a legal campaign to try and stop online fast fashion group Shein from listing on the London Stock Exchange. It is urging UK regulators to refuse the multi-billion pound share sale on forced labour concerns.
The lawyers have asked the Financial Conduct Authority to seek more information from the company about the accuracy of its published Modern Slavery statement. Shein needed to explain the “appropriate measures” the Stock Exchange has in place to spot any trade in goods produced overseas in a way that would be an offence under the Modern Slavery Act 2015.
Barrister Michael Polak, chair of Lawyers for Uyghur Rights, said: “The FCA’s Principles require that all firms conduct their business with integrity. A firm alleged to have involvement in goods directly produced by slave labour in the Uyghur Region creates a risk that those vital principles will be violated. We will ask the FCA to consider the expert evidence that we will provide to them before deciding on a public listing in the UK.
Its success however, has seen it draw a barrage of criticism over the environmental impact of the business as well as its working practices which include the forced labour allegations.for the London market because of the fast-fashion firm’s “questionable” labour and human rights standards.
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Source: DailyMailUK - 🏆 7. / 90 Read more »
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