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Modern Day Slavery: The Scope May Be Larger Than You Think

Downstream Firms Must Stay On Top Of The Evolving Regulation

SOURCE: Source Intelligence®

DESCRIPTION:

The scope of the UK Modern Day Slavery Act is currently determined by two things; location, and revenue threshold.  The location criteria is defined as a company that is based in the UK.  The revenue threshold of companies in scope is set at £36 Million, however companies that fall under that threshold still may be asked to report.  According to Leonie Barrie, a company that provides goods and services to a larger company above the £36 million threshold may be asked to provide due diligence reports on their respective anti-slavery efforts.

Barrie Continues to explain that over 12,000 companies will have to report their anti-slavery statements.  Though the Modern Day Slavery Act only requires companies that break the revenue threshold to report, downstream firms must stay on top of the evolving regulation.  The scope of the Act stretches across almost all sectors and types of businesses.  If you believe your company may be affected, or would like to learn more on how to stay on top of the UK Modern Day Slavery Act, click here.

Tweet me: Modern Day Slavery: The Scope May Be Larger Than You Think #downstream #antislavery #codeofconduct #ethicalsourcing http://3bl.me/mc2pyw

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