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UK Financial Industry Fights Diversity Disclosures

UK Financial Industry Fights Diversity Disclosures

by Starling Insights

Starling Insights Editorial Board

Nov 07, 2023


In September, the UK’s Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) launched a consultation on proposed mandatory disclosures to promote diversity and inclusion in the 1,500 companies with over 250 employees in London's financial district.

Now, the regulators are facing resistance from the industry. The proposed rules would require that firms disclose data related to age, sexual orientation, gender, health conditions, ethnicity, and religion among their workforces. Many companies object to the mandatory disclosure requirements, citing concerns about infringing on employees' privacy and forcing individuals to share personal information.

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