This document outlines our Modern Slavery policy, which is subject to annual review. If you have any inquiries, please reach out to us.
Introduction
This policy applies to Velasco Limited, whose registered office can be found at 301 The Tea Factory, Office 319, St Peter’s Square, Fleet Street, Liverpool L1 4DQ (referred to as ‘the Firm’), authorized and regulated by the Financial Conduct Authority (Firm Reference Number: 839005).
The information presented herein is relevant to the financial year 2023/24.
Organisational Structure
The Firm is overseen by a board of directors, and operational labour is conducted in the North West of England.
Definitions
Modern slavery for the Firm includes human trafficking, forced labour under threat or duress, employer control through abuse, dehumanisation, and physical restraint.
Commitment
The Firm acknowledges its duty to combat modern slavery, committing to comply with the Modern Slavery Act 2015. This commitment involves continuous internal and supply chain practice reviews.
The Firm refrains from engaging with organisations, domestically or internationally, supporting or involved in slavery, servitude, or forced labour. It ensures its labour adheres to the UK’s employment legislation.
Supply Chains
Primary supply chains involve legal services provision. The infrastructure at our offices in Liverpool and remote work facilitation contribute to the Firm’s professional services.
Potential Exposure
The primary risk of slavery and human trafficking lies in lower-paid positions within the office infrastructure. Although exposure is limited, the Firm takes stringent measures to prevent such practices in its operations and those of its suppliers.
Impact of COVID-19
The COVID-19 pandemic did not elevate the risk of modern slavery. The Firm, having maintained consistent suppliers, implemented remote work swiftly, ensuring employees’ access to the grievance procedure and full pay during isolation.
Steps
The Firm conducts due diligence to prevent slavery in its operations and supply chains. Future steps may involve supplier contract reviews, risk assessments, impact evaluations, action plans, and staff training on modern slavery.
Key Performance Indicators (KPIs)
The Firm establishes KPIs to measure its effectiveness in preventing modern slavery, with regular reviews to assess sufficiency.
Policies
The Recruitment Policy complements the Firm’s position on modern slavery.
Slavery Compliance Officer
Terence Ware serves as the Slavery Compliance Officer, addressing concerns related to modern slavery and ensuring compliance with the Firm’s obligations.
This statement aligns with Section 54(1) of the Modern Slavery Act 2015, subject to annual review.
