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Question for Department for Business, Energy and Industrial Strategy

UIN 71206, tabled on 8 July 2020

To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans he has to publish an update of the Financial Reporting Council’s (FRC) Corporate Governance Code and UK Stewardship Code, and the Financial Conduct Authority’s (FCA) listing rules to require modern slavery disclosures on a (a) comply or (b) explain basis.

Answered on

17 July 2020

It is already a legal requirement under Section 54 (transparency in supply chains provision) of the Modern Slavery Act 2015 for commercial organisations carrying on business in the UK with a turnover of over £36m a year to produce an annual statement setting out the measures they have taken to ensure that no slavery or human trafficking has taken place in their business or through their supply chains.