FCA, PRA and BoE join forces to tackle regulated firms' lack of diversity

Pilot survey will launch in autumn

Kathleen Gallagher
clock • 2 min read

The Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England (BoE) have come together to explore how they can improve diversity and inclusion in the financial services sector.

In a discussion paper the regulators outline several suggestions including regular reporting, linking renumeration to D&I metrics, internal audits, and considering the approach to non-financial misconduct. Nikhil Rathi, chief executive of the FCA, said: "We are concerned that lack of diversity and inclusion within firms can weaken the quality of decision-making. "We look forward to an open discussion on how we should use our powers to further diversity and inclusion within financial services, to the mutual benefit of firms and their customers." To inform the "policy development", t...

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

Finfluencer trials delayed until 2027 due to court backlog

Finfluencer trials delayed until 2027 due to court backlog

Nikhil Rathi gave the update to aTreasury Committee hearing

Sorin Dojan
clock 10 June 2025 • 2 min read
Sustainability and market abuse concerns raised as FCA rings bell on PISCES launch

Sustainability and market abuse concerns raised as FCA rings bell on PISCES launch

PISCES regulatory regime now live

Linus Uhlig
clock 10 June 2025 • 3 min read
Northumberland firm declared failed by FSCS over pensions advice

Northumberland firm declared failed by FSCS over pensions advice

PCM Asset Management lost FCA authorisation in 2019

Sahar Nazir
clock 05 June 2025 • 1 min read