UK watchdogs scrap diversity and inclusion rules for financial firms

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The best financial organizers in Britain unloaded plans to impose tougher rules for diversity and integration, in the last sign that government pressure on the International Agency for Economic Development is forced to rethink many policies.
the Financial behavior authority The exclusive organization said on Wednesday that they would not have plans that require companies to reveal more policies of their diversity and inclusion, after politicians and companies were widely exposed to them after that.
This step came along with FCA decision to abandon Controversial proposals to “Name and Dagge” More organization -based companies and Prime Minister Sir Kerr Starmer’s plan to cancel the United Kingdom Separate payment organizer.
It also reflects Retreat By American companies, a variety, shares and inclusion initiatives amid a comprehensive attack by conservatives who gathered from Donald Trump as a president.
Under the plans set in September 2023 by FCA and PRA, which is part of the Bank of England, financial services companies could have been asked to report more data about employee diversity, including age, race, gender, religion and sexual orientation.
The heads of the organizers MPS told Wednesday that the plans were dropped in response to criticism that they would add the burden of hard reports to companies and create interference with government proposals for legislation in this field.

In a letter to Dame Meg Hillier, Chairman of the Treasury Selected Committee in the House of Commons, Pra Sam Woods, President of the Pra Woods wrote:
“Given this, we are not currently planning to spread new rules on diversity and integration, and we do not intend to return to this question until after the objective implementation of any new legislation in this field,” Woods said.
He added that the organizers will support the volunteer industry initiatives and “they remain vigilant to the dangers of collective thinking within companies.”
Many financial services companies are already asked to report the gender wage gap, but the deputies have raised plans to expand the amount of diversity imposed on them.
In its report, “Sex and City” last year, the selected treasury committee warned: “It is possible that many companies will be treated with costs that are not clear by many companies as another” tick box “exercise, instead of leading the cultural change that is necessarily needed.”
Starmer has since called the monitoring leadership to propose ways to increase economic growth, and asked the cabinet ministers to conduct a review of all 130 organizers to know the bodies that could be fascinated.
In his message to TSC, the CEO of FCA NIKHIL Rathi confirmed that the International Energy Agency was also retracting plans to determine more of its organization.
The decision explained, Rathi said that although “it was aimed at building a wide consensus behind the proposals” and were supported by consumer groups and violations, but “the industry is still largely opposed to certain aspects.”
Rati said that the criticisms focused on “publishing the investigation specifically in an organized company that carries out an approved activity when the public interest test is fulfilled.”
He added: “Given the lack of consensus, we will not possess this, and therefore we will be committed to testing our existing exceptional circumstances to determine whether we should publish investigations into the companies subject to the organization.”
Rathi pointed out that the organizer will continue plans to reveal the identity of the organization that is looking for it when they are announced by others, and when they investigate the companies that are not subject to regulation, “which often includes fraud that includes great harm from consumers.”
FCA said it has been delayed plans to introduce rules on non -financial misconduct, such as sexual harassment or bullying at the workplace, until June. This was scheduled by this month.
Rati said in his letter that the International Energy Agency “is still committed to this work”, but “the legislative scene has also changed since consultation”, so it “took some time to get this right.”
The two organizers also said they are planning to review how the preference for bankers’ bonuses that affect gender wages and inequality.
But to allow companies to control wage policies, this work may only happen in the fiscal year 2026-27, FCA and PRA said.
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2025-03-12 12:00:00