FCA moves to force firms to 'comply or explain' diversity targets

Regulator proposes new diversity disclosure requirements

Mike Sheen
clock • 2 min read

The Financial Conduct Authority (FCA) has proposed new rules forcing listed companies to disclose diversity information about boards and executive teams, including the introduction of “comply or explain statements” on progress in achieving gender and ethnic minority representation targets.

In a consultation on changes to its listing rules published today (28 July), the FCA proposed the introduction of annual publications to ensure any existing disclosure on diversity policies addresses key board committees and also considers broader aspects of diversity. This could include considerations of ethnicity, sexual orientation, disability, lower socio-economic background and other diversity characteristics. Earlier in July, the FCA, the PRA and Bank of England issued a joint discussion paper exploring how they can improve diversity and inclusion in the financial services secto...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Moving beyond FG12/16: The evolution of investment propositions

Moving beyond FG12/16: The evolution of investment propositions

'The modern adviser requires a holistic approach'

Karl Dines
clock 21 November 2024 • 4 min read
FCA's Nikhil Rathi registers interest for top civil service job - reports

FCA's Nikhil Rathi registers interest for top civil service job - reports

FCA CEO term to end next year

Linus Uhlig
clock 19 November 2024 • 1 min read
A practical guide to getting ongoing reviews in order

A practical guide to getting ongoing reviews in order

Have you considered file checks on annual review cases?

Jennifer Peaty
clock 19 November 2024 • 6 min read