This Statement is made voluntarily on behalf of Record Currency Management Ltd and Record Group Services Ltd ("Record", "we", "our" or "us") and is published pursuant to section 54 of the UK Modern Slavery Act ("the Act") and the United Nations Global Compact Principles, of which Regord is a signatory of.
Modern slavery is a crime and a violation of fundamental human rights. It takes various forms, such as slavery, servitude, forced and compulsory labour and human trafficking, all of which have in common the deprivation of a person's liberty by another for the exploitation for personal or commercial gain. This Statement outlines the steps Record has taken to detect and prevent modern slavery and human trafficking from occurring in our organisation and supply chains.
Record is a specialist currency and derivatives asset manager, providing solutions to institutional clients. Record operates in a sector and country which both have a relatively low risk of modern slavery and human trafficking. Neverthless, Record seeks to provide its services according to the highest ethical and professional standards and takes a zero-tolerance approach to modern slavery and human trafficking within its business acticities and supply chains.
Our apprach to combatting modern slavery and human trafficking is discussed further below:
We have a number of policies and procedures that govern the way we operate and aid us in identifying and mitigating modern slavery and human trafficking risk within our business. These include:
Record only deal with reputable and well-established suppliers and expect the same high standards from all of our suppliers, contractors and any other third parties.
Record's suppliers are largely based in advanced OCED countries, mainly the UK, Europe and the USA. Further, our supply chain is relatively short and predominantly comprises high skilled professionals. As a result, we believe there is limited risk of modern slavery taking place in our supply chain. However, we recognise that certain goods and service requirements for our office facilities, such as office equipment, cleaning services and IT services, may carry a higher risk of modern slavery. Therefore, Record considers the risk of its supplier relationships on a case-by-case basis and assesses suppliers across four risk factors:
Where suppliers have been identified as high risk, due diligence is carried out by assessing company policy and procedures, as well as requesting a due diligence questionnaire to be completed. The company must provide appropriate evidence that it has satisfactorily assessed its own risk of involvement in modern slavery and has preventative measures in place.
Record has a responsible investment policy, which incorporates appropriate ESG considerations into its investment process. Record's responsible investment policy (available at https://www.recordcrm/storage/uploads/docs/Responsible-Investment-Policy.pdf) sets out its approach to responsible investment, in line with its status as a signatory to the United Nations-supported Principles for Responsible Investment.