UK human rights group launches campaign to stop Shein’s potential London IPO

:UK-primarily based human rights neighborhood Cease Uyghur Genocide has launched a criminal advertising and marketing campaign to block Shein’s doable London checklist over concerns about its labour practices, a legislation firm representing the advertising and marketing campaign neighborhood acknowledged on Wednesday.

Human rights legislation firm Leigh Day has written to the UK’s Monetary Behavior Authority (FCA) to induce the regulator to refuse any strive by Shein to checklist on the LSE, it acknowledged.

Shein did no longer instantly reply to a Reuters quiz for comment, whereas the FCA declined to comment.

On Tuesday, Amnesty International UK acknowledged Shein’s doable London initial public offering may maybe maybe be a “badge of shame” for the London Stock Alternate thanks to the rapid-kind firm’s “questionable” labour and human rights standards.

Shein confidentially filed papers with Britain’s markets regulator in June, two sources steered Reuters on Monday, kicking off the task for a doable London checklist later this 300 and sixty five days.

The corporate has beforehand acknowledged it used to be investing in strengthening governance and compliance across its provide chain.

The FCA has no investigation or enforcement powers in relation to alleged breaches of legislation no longer within its remit, such because the Up-to-the-minute Slavery Act or tax legislation.