Firms' diversity initiatives are lacking purpose, FCA warns

The regulator is in the middle of a clamp down on commitment to D&I

Hope Coumbe
clock • 1 min read

Many firms’ approaches to diversity and inclusion (D&I) are “generic” and do not take a holistic view, the Financial Conduct Authority (FCA) has warned.

Speaking at the Culture and Conduct Forum yesterday (23 November), chief operating officer and executive director of authorisations Emily Shepperd reflected on the regulator's multi-firm work on approaches to D&I last year. She said that while almost everyone the watchdog had spoken to was "committed and passionate about making progress", firms' initiatives were not hitting the mark. "They lacked both a clear articulation of purpose and actions oriented to achieving their goals," she explained. "The reality is that if the purpose is not clearly understood, articulated or indeed bac...

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