Regulators consult on measures to boost D&I in financial services
The Financial Conduct Authority and the Prudential Regulation Authority have released consultation papers setting out proposals to boost diversity and inclusion to support healthy work cultures, reduce groupthink and unlock talent.
After the consultation, which runs till 18 December, the plan is for the final rules – the majority of which would apply to firms with 251 or more staff – to be published next year.
Most of the requirements, including setting targets, regulatory reporting and disclosure, would only apply only to the largest firms
The long-delayed proposals come after the FCA and PRA first sought views in a discussion paper in July 2021.
The original goal had been to follow up in 2022 however the timeline was
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