Modern Slavery Statement
Slavery and Human Trafficking Statement
This Statement is made pursuant to section 54 of the Modern Slavery Act 2015 (“the Act”) and sets out the steps that Weatherbys Bank Limited and its subsidiaries (the Weatherbys Banking Group or the Banking Group) has taken to ensure that slavery and human trafficking is not taking place in its supply chains or any part of its business or that of its subsidiaries.
The Weatherbys Banking Group does not tolerate modern slavery or human trafficking within its business operations and is committed to ensuring that its supply chains are free from slavery and human trafficking. This Statement sets out the actions that the Banking Group has taken and will continue to take to understand and combat slavery and human trafficking risks within the businesses of the Weatherbys Banking Group.
- Our business
Weatherbys Bank Limited is a private limited company registered in England and Wales and is a wholly owned subsidiary of Weatherbys Bank Holdings Limited.
Weatherbys Bank provides private and racing banking products and services with offices in Wellingborough, London, and Edinburgh. Arkle Finance Limited is an asset finance business and Weatherbys Hamilton Limited is an insurance broker.
In support of our business operations, the Weatherbys Banking Group purchases goods and services from a number of suppliers, the majority of which are based in the UK.
- Our approach to slavery and human trafficking
The Weatherbys Banking Group prides itself on the quality of its client service and reputation built on understanding client needs, together with an established set of brand values for employees.
The Banking Group also operates a Whistleblowing Policy which encourages our employees to report any concerns or wrongdoing.
- Supply chain risk within the Group
The Banking Group operates within a professional and regulated environment and does not have complex supply chains or obtain material services from suppliers with a high risk of slavery or human trafficking. We have adopted a risk-based approach to review and diligence existing suppliers and will adopt this approach for any new supplier with which we contract. The diligence undertaken is proportionate to the services provided.
Where applicable, we ensure that our suppliers have a contractual obligation to comply with all applicable laws that apply to their supply of goods and services to us, regardless of the jurisdiction in which they operate.
Training is fundamental to raising awareness and educating all staff members on the issues highlighted in the Act. We aim to provide relevant training and development for all staff members to ensure a high level of understanding of the risks of modern slavery and human trafficking in our supply chains and business, and our obligations under the Act.
- Looking Ahead
We will continue to review and report on the following to assess the effectiveness of our actions:
- To create an Anti-Slavery Policy to reflect our commitments to acting ethically and with integrity.
- To provide employee training in relation to slavery and human trafficking.
- To assess any non-compliance with the Modern Slavery Act and its requirements
In 2022 we had no reported incidents of human rights breaches, slavery, or trafficking. We reiterate our commitment to the Act and its underlying principles.
This Statement has been reviewed and has been approved by the Weatherbys Banking Group Board of Directors. It will be reviewed annually and updated as required.
This statement is made with respect to the financial year ended 31 December 2022 in accordance with section 54(1) of the Modern Slavery Act 2015. It has been approved by the Weatherbys Bank Board of Directors and signed by a Director.
Chief Executive Officer
Weatherbys Bank Limited