Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 02 MARCH 2021

Modern Slavery In Financial Services

Morrison Foerster
Morrison Foerster
Contributor
Morrison Foerster

Morrison Foerster

With approximately 1,000 lawyers in 19 offices, Morrison & Foerster is a preeminent global law firm...

View firm profile
Explore more from Morrison Foerster

On 18 January 2021, the UK's Independent Anti-Slavery Commissioner, Dame Sara Thornton, published a report on preventing modern slavery and human trafficking in the financial services sector.

United StatesFinance and Banking
Gareth Rees
Gareth Rees
Hayley Ichilcik
Hayley Ichilcik
Pietro Grassi
Pietro Grassi
Author LinkedIn connections

Gareth Rees QC, Hayley Ichilcik, Pietro Grassi, and Stephanie Pong authored an article for Thomson Reuters' PLC Magazine, covering the UK's Independent Anti-Slavery Commissioner Dame Sara Thornton's report on preventing modern slavery and human trafficking in the financial services sector.

"The report reveals that 36% of finance industry employees do not see the crimes and human rights breaches described in the Modern Slavery Act 2015 as something that their companies can prevent," the authors wrote. "The goals of the report are twofold: to dispel this misconception by raising awareness of modern slavery and human trafficking threats in the UK finance industry and to highlight what businesses can do to prevent modern slavery."

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP. All rights reserved

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

SEC Advances “Responsible Retailization” Through A Potential Accredited Investor Exam And Potential Regulated Fund Reforms

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

SEC Proposes Rule Amendments To Expand Retail Access To Private Markets

The SEC has proposed sweeping amendments to expand retail investor access to private market strategies, including changes to performance-based compensation rules for registered investment advisers and modernization of the interval fund framework. The proposals also explore new credential-based pathways for individuals to qualify as accredited investors, potentially opening private offerings to a broader pool of eligible participants.
United StatesFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

SEC Approves FINRA’s New “Outside Activities” Rule

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

OCC Issues Examiner Framework For Banks’ Use Of Artificial Intelligence

The Office of the Comptroller of the Currency has released a new framework for evaluating banks' deployment of artificial intelligence and agentic AI systems in their business operations. This guidance establishes how examiners will assess AI through existing risk management disciplines rather than creating separate regulatory requirements, with review intensity scaled to each use case's potential consequences and level of human oversight.
United StatesFinance and Banking
Sheppard
Sheppard
Article

New Law Ushers In Sweeping Changes To Bankruptcy Regime In China

The new Enterprise Bankruptcy Law of the People’s Republic of China (PRC) (Bankruptcy Law) was adopted on August 27, 2006 and will take effect on June 1, 2007, superseding the 1986-enacted Enterprise Bankruptcy Law (Trial) 1986, governing the bankruptcy of State-owned Enterprises . The Bankruptcy Law offers for the first time a unified regime applicable to all types of enterprises in China and also provides a more robust and detailed regime for enforcement of creditors’ claims. We discuss below
ChinaInsolvency/Bankruptcy/Re-Structuring
Morrison Foerster
Morrison Foerster