RFS Modern Slavery Statement 2018/19
This statement sets out the steps taken by Regulatory Finance Solutions Limited to prevent modern slavery.
Regulatory Finance Solutions Limited is a leading management consultancy with specific expertise in regulated industries.
We understand the growing issues around modern slavery. No sector or industry is immune and RFS is committed to being alert to the risks, however small, in our business and supply chain.
Our supply chain consists of:
We have in place systems to:
Due Diligence Process for Slavery and Human Trafficking
We have zero tolerance to slavery and human trafficking. Our Anti-Slavery & Human Trafficking Policy set out the standards that RFS expects of its suppliers, contractors, and of itself. Key staff are trained to recognise instances of modern slavery and understand how the issue should be reported and dealt with.
We operate within a culture of transparency. Our Whistleblowing Policy is aimed principally at employees but is available to others working within our supply chains. This encourages staff and associates to report any wrongdoing and extends to human rights violations, such as those covered by the Modern Slavery Act.
We expect the same high standards from our suppliers as we do from ourselves. We keep our supply chain under review and insert an anti-slavery and human trafficking clause into relevant contracts that we issue.
As a supplier of services, we recognise that our biggest exposure to the risks of modern slavery and human trafficking concerns the employees of the associate companies we use. To mitigate this risk, due diligence is carried out on the associate company, whilst its employees are personally interviewed and questioned to assess both their suitability to provide services and to ensure they have freedom of choice.
We have introduced an updated risk assessment procedure that is carried out on new suppliers, but also at set intervals on existing suppliers, to ensure they still meet our standards.
Assessment of Effectiveness in Preventing Modern Slavery
We understand that the risks around modern slavery will evolve over time and we will continue our approach to mitigating these in the year ahead.
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and was approved by the board of directors of Regulatory Finance Solutions Limited on 20th September 2018.