The Financial Conduct Authority (FCA) has finalised rules that will mandate listed companies to report on their diversity at board and executive management level.
The financial watchdog has confirmed that failure to meet set targets must be accompanied with an explanation as to why. The FCA has said its approach "allows flexibility for smaller firms or those based overseas." Boards of listed companies must consist of at least 40% women, with at least one woman at senior board level, according to the FCA. Companies must also have at least one board member from a black or ethnic minority group. According to the watchdog, businesses will be able to choose how best to collect data from their employees and report on progress. "As investors...
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