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As Assistant to the President for Economic Policy and Director of the National Economic Council (2017-2018), Gary Cohn managed the US economic policy agenda, stimulating economic expansion, job creation, and wage increases through historic tax and regulatory reform. Prior to that he was the President and Chief Operating Officer at Goldman Sachs where he worked for more than 25 years.

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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

Observations

Diversity & Inclusion UK FCA UK UK PRA Regulatory Trends Regulatory Reporting Governance & Metrics

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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