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UK regulators abandon DEI reporting
March 24, 2025
|Financial Standard
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will no longer introduce new diversity and inclusion rules for financial services organisations, claiming they wish to "avoid additional burdens on firms at this time."
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The FCA and PRA - which is the regulatory arm of the Bank of England - launched a consultation in 2023 aimed at boosting diversity in financial services. It followed a spate of sexual harassment cases and the renewal of a government committee to investigate sexism in the industry and the barriers faced by women. The resulting report, Sexism in the City, was damning and called for a raft of reforms.
The regulators consulted on imposing diversity targets and requiring large, regulated firms to report on employees' gender, ethnicity, religion and sexual orientation.
However, the FCA and PRA have now confirmed they will not pursue such changes.
هذه القصة من طبعة March 24, 2025 من Financial Standard.
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