Modern Slavery Act (UK)
Introduction
This statement is made pursuant to section 54 of the UK’s Modern Slavery Act 2015 (the “Act”). It sets out the steps that MUFG Investor Services Holdings Ltd. and its subsidiaries in Cayman Islands, Bermuda, Ireland, UK, Jersey, Hong Kong, Singapore and Canada (hereinafter ‘MUFG’) will take on an ongoing basis, during the 2020 financial year, to ensure that modern slavery and human trafficking are not taking place among vendors or within any part of MUFG’s business.
MUFG strives to maintain the highest professional and ethical standards and expects the same from its suppliers.
Slavery and human trafficking remain entirely contradictory to the corporate values of MUFG, have no place in or connected to the organisation, and MUFG is therefore pleased to reinforce this principle through this statement.
Background
MUFG Fund Services (UK) Ltd. provides sales and marketing services and therefore does not meet all the criteria necessary to be captured under the Act. Notwithstanding this, MUFG choose to publish this statement and implement the steps necessary to mitigate the risk of exposure to modern slavery and human trafficking, and to subsequently provide Clients with this level of comfort.
As a member of the Mitsubishi UFJ Financial Group Inc. (“MUFG Group”) MUFG is committed to MUFG Group’s Corporate Vision and Principles of Ethics and Conduct. These require amongst other things, that the human rights of all employees are respected, MUFG act with integrity and comply at all times with the letter and spirit of laws, regulations and rules that apply to and combat criminal activity.
Approach
MUFG has identified the following steps and measures to mitigate the risk of exposure to modern slavery and human trafficking in its business and supply chains, including but not limited to:
- Human resources policies that aim to create a working environment based on the core values of respect, fairness, collaboration, team work, support, trust and transparency.
- Whistleblowing and grievance procedures, through which employees can escalate any concerns relating to modern slavery or human trafficking. MUFG has a global Whistleblowing Policy and reporting structure in place.
- Anti-bribery and anti-money laundering polices, recognising that modern slavery and human trafficking can be a precursor to bribery or money laundering activities.
- MUFG does not condone or support any form of bullying or harassment, and is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. Employment decisions are made in a non-discriminatory manner in accordance with MUFG’s obligations under the law and a commitment to pay a living wage.
- MUFG seeks to engage with vendors whose ethical principles align to those of MUFG. Vendors, where applicable, are required to confirm that they have a Modern Slavery Act Statement in place, which details both their and their supply chains obligations under the Act. Confirmation that vendors have a whistleblowing process is sought, which promotes the reporting of incidents of breaches or suspected breaches of the Act.
- Employees of MUFG are provided with regular training on the Principles of Ethics and Anti-Money Laundering.
Senior Management of MUFG fully recognise that countering modern slavery and human trafficking are issues of global importance.