LONDON – The UK’s Business and Trade Committee will write to the Financial Conduct Authority (FCA) to ask how it will obtain “explicit assurances” regarding Shein’s supply chain practices before approving a listing on the London Stock Exchange (LSE). This follows Shein’s repeated failure to address concerns over its use of cotton sourced from China’s Xinjiang region.
Shein’s proposed LSE listing has been under review by the FCA since last summer. The FCA, responsible for ensuring financial markets operate transparently and fairly while protecting investors, can block or prevent a listing for several reasons. These include material inaccuracies, omissions, or misrepresentations in a company’s prospectus or required disclosures.
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