The Financial Conduct Authority and Prudential Regulation Authority set out the proposals for regulatory change as part of a 12-week consultation.
Furthermore, influential business lobbying group the Confederation of British Industry has battled for survival after more than a dozen women came forward with allegations that they were sexually harassed while working for the company. Two women said they were raped by colleagues. Having a more diverse and inclusive workforce will help guard against “groupthink”, which allows companies to get away with making poor decisions, the watchdog argued.
But the watchdog stressed that it is does not want to “prescribe” how firms should improve diversity and inclusion on an individual basis.
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