Regulators rethink D&I targets 'to avoid additional burdens on firms'

FCA and PRA to take different appraoch to diversity and inclusion

Linus Uhlig
clock • 2 min read

Two of the UK’s main regulators, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), have abandoned plans to introduce rules aimed at improving diversity and inclusion (D&I) within regulated firms.

The pair had both consulted in parallel with the industry on proposed rules and expectations that sought to improve D&I at firms that fall under their remits.  The FCA said: "In light of the broad range of feedback received, expected legislative developments and to avoid additional burdens on firms at this time, the FCA and PRA have no plans to take the work further." WilmerHale counsel Imogen Makin said the regulator's recognition that the existing rules cause a burden on firms was "welcome".  CMS financial services partner Simon Morris argued: "It is welcome news that the PRA and...

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 Regulation

Non-financial misconduct: Is the FCA's final guidance progress or overreach?

Non-financial misconduct: Is the FCA's final guidance progress or overreach?

'The FCA's rationale is clear: workplace culture drives conduct risk'

David Hamilton
clock 26 January 2026 • 4 min read
FCA ban and £2m fine upheld against 'worst' British Steel adviser

FCA ban and £2m fine upheld against 'worst' British Steel adviser

Upper Tribunal backs regulator's findings in key BSPS misconduct case

Sahar Nazir
clock 19 January 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 19 January 2026 • 1 min read