Firms warned over diversity vagueness amid FCA clamp down

Deadline for first reporting on progress is next month

Mark Battersby
clock • 3 min read

The first annual reports to cover new Financial Conduct Authority (FCA) diversity and inclusion (D&I) reporting requirements must hit targets or contain "clear and meaningful explanation' of why targets were missed.

In a briefing note on 24 March, international law firm Pinsent Masons issued a reminder of the targets that were introduced last year and the April deadline for the first annual reports to take account of new obligations. The rules require that 40% of firm's board are women, that at least one board member is from a minority ethnic background, and that a woman holds at least one of the firm's most senior positions: chair; chief executive; chief financial officer or senior independent director. The FCA has published a reminder of its expectations of companies when they have failed to me...

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 Your profession

Why the personal advice touch will thrive amid generational digital disruption

Why the personal advice touch will thrive amid generational digital disruption

Growing appetite for protection amongst younger people

Roger Brosch
clock 07 February 2025 • 4 min read
Financial planning shifts from 'sales-based to experience-based' industry

Financial planning shifts from 'sales-based to experience-based' industry

Sector shifts towards inclusivity and client experience

Sahar Nazir
clock 07 February 2025 • 2 min read
FCA: 'We need to deliver policy quickly' to tackle advice gap

FCA: 'We need to deliver policy quickly' to tackle advice gap

Sara Woodroffe stressed the need for swift action amid advice/guidance boundary review

Sahar Nazir
clock 07 February 2025 • 2 min read