Modern Slavery Statement

Introduction from the Chief Executive Officer

Shore Capital Markets Limited and its subsidiaries (together “Shore Capital”) comprise a leading independent UK financial services business, which employs circa 125 staff across the firm.  Shore Capital’s principal activities include the provision of corporate broking, corporate advisory, equity sales, research and institutional stockbroking services, including fixed income trading, to our clients. 

It continues to be a priority for Shore Capital to ensure that it trades ethically, sources responsibly and works to prevent modern slavery and human trafficking throughout the organisation and in its supply chain. We have a zero-tolerance approach to slavery and human trafficking.

Our supply chains

Shore Capital provides financial services, and does not act as a producer, manufacturer, or distributor of any physical goods. Shore Capital has a simple supply chain in comparison to goods providers.

Notwithstanding this fact, Shore Capital is committed to ensuring that its supply chain is free of any modern slavery or human trafficking. We will not knowingly engage in relationships which support modern slavery. Supply chains include, but are not limited to, the providers of IT hardware, building facilities, financial data providers, legal, accountancy and other professional services providers, travel and accommodation providers and custodial and settlement service providers.

We have reviewed all of our internal policies, procedures and practices to ensure that we, as an organisation, are best placed to be able to identify and combat slavery and human trafficking.

Our policies on slavery and human trafficking

We have appropriate policies in place that underpin our commitment to ensure that there is no modern slavery or human trafficking in our supply chains (managed through our procurement policy) or in any part of our business (whether inward or outward facing). We continuously review and update all our policies, with ownership of relevant policies sitting at relevant team level and ultimate board responsibility for final review and approval. Good compliance is a Board meeting agenda item.

Our Anti-slavery Policy reflects our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains. We also have the following policies in place relevant to modern slavery, which we continuously review and update:

• Dignity at work policy
• Procurement policy

Due diligence processes for slavery and human trafficking

We have in place systems to:

• Identify and assess potential risk areas internally and in our supply chains.
• Mitigate the risk of slavery and human trafficking occurring internally (through, amongst other things, robust procedures for the vetting of new employees, identity confirmation and verification of/payment to personal bank accounts) and in our supply chains.
• Monitor potential risk areas in our supply chains.
• Protect whistle blowers.

Any employee who breaches our Anti-slavery Policy will face disciplinary action whilst we also understand our need to alert and comply with the strictures of the regulatory authorities.  Likewise, we would raise our concerns at the appropriate level and if necessary, terminate our relationship with any third-party individual or organisation working on our behalf, if they were found to have breached our Anti-slavery Policy.

As part of its HR policies and procedures, Shore Capital only uses reputable recruitment firms and complies with all relevant local laws and regulations.

Supplier adherence to our values

To ensure all those in our supply chain and contractors comply with our values we have in place a specific procurement process to ensure that suppliers are maintaining appropriate and necessary standards. We apply a risk-based methodology in monitoring existing supplier relationships and their approach to mitigating the risks associated with modern slavery and human trafficking.

Training

To ensure a high level of understanding of the risks of modern slavery and human trafficking in our supply chains and our business, we provide training to our team.

Our effectiveness in combating slavery and human trafficking

We will continue to review and enhance our internal policies and procedures to ensure that we are taking all appropriate action to combat slavery and human trafficking within our business and in our supply chain.

This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes our slavery and human trafficking statement for the financial year ending 31 December 2023. 

Simon Fine

Chief Executive Officer

30/06/2024