Firms' diversity initiatives are lacking purpose, FCA warns

The regulator is in the middle of a clamp down on commitment to D&I

Hope Coumbe
clock • 1 min read

Many firms’ approaches to diversity and inclusion (D&I) are “generic” and do not take a holistic view, the Financial Conduct Authority (FCA) has warned.

Speaking at the Culture and Conduct Forum yesterday (23 November), chief operating officer and executive director of authorisations Emily Shepperd reflected on the regulator's multi-firm work on approaches to D&I last year. She said that while almost everyone the watchdog had spoken to was "committed and passionate about making progress", firms' initiatives were not hitting the mark. "They lacked both a clear articulation of purpose and actions oriented to achieving their goals," she explained. "The reality is that if the purpose is not clearly understood, articulated or indeed bac...

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 Business

ValidPath to offer £100,000 to AR firms facing exit penalties

ValidPath to offer £100,000 to AR firms facing exit penalties

‘Safety blanket’ for AR firms moving to ValidPath network

Jenna Brown
clock 20 February 2024 • 3 min read
Inside the CII's new training programme for advice firm owners

Inside the CII's new training programme for advice firm owners

‘Building a World Class Advisory Practice’ is off to a strong start

Hope Coumbe
clock 15 February 2024 • 4 min read
Flying start: Getting a financial advice career off the ground

Flying start: Getting a financial advice career off the ground

‘Building rapport and trust is essential when working with clients’

Jenna Brown
clock 13 February 2024 • 5 min read