Disclosure time Responding to the Modern （披露时间应对现代）.pdf

Disclosure time Responding to the Modern Slavery Act Disclosure time Responding to the Modern Slavery Act Executive summary A duty on larger organisations to publicly report steps they have taken to ensure their operations and supply chains are trafficking and slavery free applies to qualifying businesses with year-ends from 31 March 2016. By driving up transparency, the expectation is that modern slavery will be tackled with greater urgency. This disclosure duty, contained in the Modern Slavery Act 2015, applies to companies and partnerships supplying goods or services (wherever incorporated or formed) with global turnovers of £36 million and above, providing they carry on business in the UK. While legal penalties for breach are limited, organisations should expect campaigning pressure groups to monitor their compliance, with the associated reputational risks. To comply, organisations are expected to report annually, for example, on policies, training, due diligence processes and the effectiveness of measures taken to combat slavery and trafficking. The annual report must be signed and approved at the highest level in the organisation and made accessible on the organisation’s homepage. 1 Disclosure time Disclosure time Responding to the Modern Slavery Act Responding to the Modern Slavery Act Where there are non-UK parent companies