New Delhi

The UK human rights group Stop Uyghur Genocide which is campaigning against the Chinese fast-fashion giant Shein has been leading an effort to stop the company from being listed on the London Stock Exchange (LSE).

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The group has petitioned the British equivalent, the Financial Conduct Authority (FCA), to stand in the way of Shein from going public in the city.

Shein, on the other hand, investigates that it does not allow forced labour and is committed to protecting human rights.

The company also has continually highlighted its supply chain and policies that compel manufacturers to source their cotton from only sensitised areas.

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Currently, the FCA has not made any statement concerning the issue. Another lobby joined, Amnesty International UK, stated that they would oppose Shein’s listing on the LSE should the company consider an IPO in London accusing the company of having questionable labour practices and human rights narratives.

Earlier this June, Shein put confidential filing with the FCA, to begin the process for following a possible London listing later this year, as per the sources.

Shein has also indicated that it is gradually channelling resources to better governance and compliance across sectors in its supply chain.

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However, it should be clarified that the FCA’s powers do not include investigation or prosecution of alleged infringements of legal provisions that fall outside of the FCA framework, like the Modern Slavery Act or the tax law.

(With inputs from Reuters)