elitecfd Modern Slavery Statement

This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes the elitecfd slavery and human trafficking statement for the financial year ending 2020. All references to elitecfd include elitecfd Group plc and elitecfd Limited.

elitecfd does not tolerate forced, coerced or compulsory labour or human trafficking of any of kind. This of course includes within our own operations, our supply chain, or within any organisation that we engage with. We are committed to consistently improving our business practices and methods of conducting due diligence to combat modern slavery and human trafficking. This statement outlines what steps we have already taken to ensure that we are sufficiently compliant and highlights the due diligence we are currently doing and will continue to do as a business.

Our Business

elitecfd Group plc is a publicly listed, financial services firm with a market cap of over £500m. As a specialist in foreign exchange risk management, we work internationally for institutions and corporate businesses impacted by currency volatility to provide hedging solutions and payments services.

The elitecfd Group has a Head Office based in Paddington, London, as well as offices in Toronto, Amsterdam, Malta. We have a total of 180 employees and the majority of this headcount is based in our London office.

Our clients are typically mid-size to large corporates and institutions based in the UK, Canada and across Europe.

Our Supply Chains

Due to the nature of our business and the locations we operate in, our supply chain is relatively straightforward. We have identified the following areas of our supply chain as potential areas of risk in relation to modern slavery and human trafficking:

  • Cleaning Staff
  • Supply of food and drink for our office spaces
  • Office and IT equipment and resources

In conjunction with Alpha’s corporate social responsibility commitments, each of these supply chains had undergone an extensive risk assessment prior to engagement by internal teams and via publicly available information to ensure that the organisations and individuals met elitecfd’s environmental and social standards. In addition to this, elitecfd reviews any additions to our supply chain to ensure their compliance with our anti-modern slavery policies.

We are committed to regularly revaluating these work and resource streams in our supply chain to ensure they continue to comply with our standards set out in this statement.

Due Diligence Processes and Staff Training

As part of our initiative to monitor and mitigate the risk of modern slavery and human trafficking, we have created the following due diligence procedures to review our supply chains and prospective clients:

  • Risk assessments to identify all potential risk of modern slavery and human trafficking in our supply chain prior to engaging with a new organisation or individual. Should the organisation fail to meet anti-modern slavery standards, the relationship is terminated.
  • Extensive reviews and assessments by elitecfd’s compliance teams of every prospective client that we engage with to ensure that the corporate business or institution operates legally and ethically.
  • An internally publicised Whistleblowing policy and protection of whistle-blowers. An extensive whistleblowing policy, highlighting the potential risks and the processes and channels for reporting concerns is readily available to all staff. Additionally, elitecfd’s senior management regularly reiterate the importance of this policy, to ensure staff feel empowered to report concerns and are comforted that they will be protected when they do so.
  • Staff Training. We regularly conduct behavioural and compliance training for all members of staff to remind team members about the elitecfd Group code of conduct and their professional responsibilities.

Further Actions

Following a review of the effectiveness of the steps we have taken in 2020 to ensure that there is no slavery or human trafficking in our supply chains, we commit to continuing the rigorous assessment of all current parties within our supply chain and any potential additions.

elitecfd takes full responsibility and accountability for upholding this statement and it was approved by the Boards of elitecfd Group plc and elitecfd Limited on 24/05/2021.

Michael Blunmann
CEO
elitecfd Limited
Date: 24/05/2021