FCA pay gaps persist despite bumper 2018/19
The regulator made a £25.4m surplus but struggled to appropriately remunerate female and ethnic minority employees.
The Financial Conduct Authority (FCA) has published its annual reports and accounts for 2018/19, reporting that income exceeded operating costs by £25.4m.
The excess income allowed the FCA to pay down 30% of its accumulated deficit, which now stands at £61.5m.
However, at a staff level, sizeable pay gaps persist for female and ethnic minority employees, as well as between executive members and non-executive staff.
Anticipating criticisms, FCA chair Charles Randell wrote: “As we transform the
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