The Modern Slavery Act 2015 (“the Act”) consolidates UK law on slavery and human trafficking and places obligations on certain businesses to have transparency within their supply chains and to prepare and publish an annual Modern Slavery statement. 

MacKay Shields UK LLP (“MacKay UK” or the “Firm”) carries on financial investment business in the UK and is thus bound by the Act. MacKay UK does not, however, meet the threshold tests within the Act that trigger the requirement to publish a statement disclosing actions taken to ensure there is no modern slavery in its business or supply chains.

Despite there being no legal requirement to publish a statement, MacKay UK nevertheless chooses to make clear that it fully supports the principles of the Act. MacKay UK has concluded that there are no examples of modern slavery within its business. The Firm’s supply chains are limited in number and are mostly comprised of other highly regulated businesses in the financial services sector. MacKay UK maintains high standards of due diligence over suppliers and would take action against any indications of modern slavery within their activities.