City of London Watchdogs to Ask Firms for Diversity Plans
- Banker’s personal life is relevant for propriety, FCA says
- Regulator won’t require companies to tie bonuses to D&I goals
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UK regulators want to boost diversity and inclusion in the financial services sector by requiring firms to set targets and making clear that a banker’s private behavior can be relevant to determining their suitability to work in the industry.
The proposals include guidance that stresses bullying and sexual harassment at the workplace or in a person’s private life are both relevant to a finance worker’s “fitness and propriety,” the Financial Conduct Authority said in a statement Monday. The watchdog has faced criticism for being too slow to investigate non-financial misconduct.