FCA and PRA launch consultation to improve D&I in financial services

The regulators aim to highlight non-financial misconduct

clock • 5 min read

The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have unveiled a consultation paper aimed at 'boosting diversity and inclusion (D&I) to support healthy work cultures'.

The consultation paper, published yesterday (25 September) also set out proposals to boost diversity and inclusion, as well as reduce groupthink and unlock talent in the industry. The diversity standards will be "flexible" and "proportionate", the FCA and PRA said, with greater requirements placed on larger companies. These will include: the development of a D&I strategy setting out how companies will achieve their objectives and goals; the collection, reporting and disclosure of data against certain characteristics; and the setting of targets to address underrepresentation. Howeve...

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