A UK parliamentary committee sounded the alarm on Thursday following allegations that fashion retailer Shein tried to push the country’s financial regulator to soften rules so the company could be listed on the London Stock Exchange.
In a letter to the Financial Conduct Authority (FCA), Business and Trade Committee Chair Liam Byrne said the committee would be “deeply concerned by any watering down of disclosure requirements, especially in cases involving potential violations of international human rights standards.”
Any relaxing of rules would “compromise the integrity of the UK’s listing regime … [and] risk reputational damage to the UK’s financial markets, and undermine investor confidence that the UK was determined to champion only the highest international labour standards,” he wrote….
UK Lawmakers Warn Regulator Over Shein’s Alleged Bid to Soften Listing Rules
