FCA and PRA launch consultation to improve D&I in financial services

The consultation paper also set out proposals to boost diversity and inclusion, as well as reduce groupthink and unlock talent in the industry. The diversity standards will be "flexible" and "proportionate", the FCA and PRA said, with greater requirements placed on larger companies. These will include: the development of a D&I strategy setting out how companies will achieve their objectives and goals; the collection, reporting and disclosure of data against certain characteristics; and the setting of targets to address underrepresentation. However, the regulators explained the latt...