- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-05-05T18:12:00
Large Canadian businesses must meet new supply chain rules starting in January that are designed to prevent products tainted by forced and child labor from entering the country.
Bill S-211 was approved Wednesday, 271-57, by Canada’s House of Commons. The Canadian Senate approved the bill in 2022.
The law will apply to companies trading on the Canadian stock exchange that meet two of three criteria, including:
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Rooting out potential child or forced labor violations in your company’s supply chain can have benefits beyond protecting reputation and being ethically sound. The process can also help your firm comply with pending child labor laws in other jurisdictions.
Amazon, IKEA, and Volkswagen were among the companies targeted in the first round of complaints under the German Supply Chain Due Diligence Act—an early indication nongovernmental organizations will seek to hold big businesses accountable for alleged human rights violations.
Respondents to a survey conducted by the International Compliance Association said they were confident they understood and are properly monitoring the social risks in their companies’ supply chains, though blind spots regarding cultures and strategic plans remain.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
