FCA urged to block Shein London listing over forced-labour concerns

finance
Created 6/26/2024
Updated 6/26/2024

A UK human rights group is pushing to block Shein’s listing on the London Stock Exchange due to allegations of forced Uyghur labor in their supply chain. The group, Stop Uyghur Genocide, urged the Financial Conduct Authority (FCA) to deny Shein's IPO application, claiming it would breach UK obligations to the International Labour Organization. They also pressed for more transparency from Shein regarding its Modern Slavery statement. While Shein could be valued at £50bn and is seeking approval for the IPO, significant regulatory and ethical concerns loom over its application.

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