This statement is made by Marex Group plc on behalf of itself and its affiliates (collectively “Marex”), pursuant to section 54 of the Modern Slavery Act 2015 (the “Act”) for the financial year ending 31st December 2022. The statement sets out the steps that we have taken to minimise the risk of modern slavery existing in our business or supply chains.
Marex is a leading financial services platform headquartered in London, with offices in Europe, Asia, North America, Middle East, and Asia-Pacific.
Our Values and Code of Conduct
As a global enterprise, we are rightly held to high standards in all that we do. Marex recognises its corporate responsibility and is committed to maintaining a culture within which ethical behaviour is promoted. Marex fully supports the Act’s objectives to eradicate modern slavery, which it defines as “slavery, servitude and forced or compulsory labour” as well as “human trafficking”.
Whilst Marex recognises that our supply chains operate within different legal and cultural environments, our Supplier Code of Conduct outlines the basic ethical requirements that our suppliers must comply with to do business with us, including our zero-tolerance approach to modern slavery, namely:
Prohibition of slavery and forced labour: we condemn the abhorrent practices of slavery, forced and compulsory labour, servitude, and human trafficking. Be it through coercion, intimidation, verbal or physical threats of violence to the individual or their family, bondage or any other means that violates that individual’s liberty.
Prohibition of child labour: we are committed to ensuring all employees meet the minimum age for employment in the relevant country.
Remuneration: this must meet the minimum legal requirements of the relevant country in which the individual works.
Working conditions: reasonable health and safety measures are taken in maintaining a safe and hygienic working environment.
We reserve the right to terminate a supplier’s contract at any time should instances of modern slavery come to light.
Our Internal Policy
We have implemented an internal modern slavery policy that sets out our zero-tolerance approach to modern slavery and human trafficking in our business and supply chains. The policy also outlines employees obligations including the requirement to report any concerns pertaining to modern slavery and human trafficking within our business and supply chains. Further, as per our whistleblowing policy, we actively support employees in raising concerns if they believe that anything illegal or unethical (including, but not limited to a breach of our policies) is taking place.
Risk Assessment
Marex performs a periodic risk assessment of its exposure to modern slavery and human trafficking.
In light of the regulatory landscape in which Marex operates, and the type of business carried out, we believe our internal business activities continue to be at a low risk of exposure to modern slavery and human trafficking.
We consider there to be a greater risk of modern slavery and human trafficking occurring within our supply chains and have established appropriate due diligence procedures for suppliers during the onboarding process which are periodically reviewed. We also impose contractual representations prohibiting modern slavery and human trafficking which all suppliers must include in their contracts with us. These sit alongside existing ethical clauses like the prohibition of bribery, and are additional to our Supplier Code of Conduct.
Training and Awareness
To ensure a suitable understanding of the risks of modern slavery and human trafficking occurring in our supply chains, where we deem there is a high risk of modern slavery or human trafficking within our supply chain or internally, we will organise appropriate training for those relevant employees.
This statement has been approved by Marex’s board of directors.
Ian Lowitt,
Chief Executive Officer
Marex Group plc