“We recommend that the regulators drop their prescriptive plans for extensive data reporting and target setting, and instead focus their efforts on ensuring that the boards and senior leadership of firms take greater responsibility for improving diversity and inclusion.”
The FCA said it welcomed the committee’s feedback on its proposals and agreed it had an important role to play.
In a statement the regulator said: “This year, we will prioritise proposals that tighten expectations on firms to tackle misconduct such as bullying and sexual harassment.
“We will reflect on the range of views received, particularly those of the committee, on our proposals that firms should set their own diversity and inclusion strategy and collect, report and disclose data against certain characteristics.
“The committee has asked us to consider how we engage with boards and other senior leaders on their firms’ culture and encourage those we regulate to adopt family friendly policies with equality impact assessments. We will consider these, and other, recommendations carefully.”
alina.khan@ft.com
