CORPORATIONS NOT MEETING THEIR HUMAN RIGHTS OBLIGATIONS

Jurist on 12th November reported that the Corporate Human Rights Benchmark (CHRB) has published its 2018 report, reviewing 100 companies based on their adherence to UN General Principles on Business and Human Rights, and finding that most companies are falling short.  3 key issues were identified in the study – almost no companies were found to have commitments to ensure workers in their supply chain and operations had living wages; less than 10% had public policies to protect human rights defenders; and more than half of apparel and agricultural companies were found to not meet expectations on preventing child labour in their supply chain.

https://www.jurist.org/news/2018/11/corporations-failing-to-meet-human-rights-obligations-report/

The report is available at –

https://www.corporatebenchmark.org/sites/default/files/documents/CHRBKeyFindings2018.pdf

ISLE OF MAN FSA UPDATES ITS REGISTRATION POLICY FOR CRYPTOCURRENCY BUSINESSES

An article from DQ Advocates in the Isle of Man on 13th November says that the FSA has recently updated its registration policy in relation to businesses operating in the cryptocurrency sector.  The FSA IOMFSA will refuse to register any Isle of Man-based cryptocurrency businesses under the Designated Businesses (Registration and Oversight) Act 2015 unless the business has at least 2 Isle of Man-resident directors; and it must be managed and controlled in the Island.  It will refuse to register those businesses which issue digital tokens unless those tokens confer a ‘benefit’ on the purchaser other than the token itself.

http://www.dq.im/news/isle-of-man-financial-services-authority-updates-its-registration-policy-for-cryptocurrency-businesses