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...
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