FCA raises concerns on D&I strategies

diversity people

The Financial Conduct Authority has warned that firms’ diversity and inclusion strategies are not consistently based on a clear diagnosis of their specific circumstances and challenges, meaning actions and initiatives may not be appropriately focused.

The regulator sampled 12 generally larger firms across multiple sectors. It asked for basic information, including the diversity and inclusion policy and strategy and targets or goals as well as any data used. The FCA also requested a 90-minute interview with each business.

The watchdog, along with the Prudential Regulation Authority and the Bank of England, consulted on policy options to drive D&I in financial services in July 2021 and will consult again next year.

According to the FCA

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