The Bank of England's regulatory arm, the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) said they would instead support "voluntary industry initiatives" aimed at boosting diversity and inclusion in the financial sector.
The announcement coincides with a rollback in the US of diversity, equity and inclusion (DEI) policies that has accelerated under Donald Trump, and with a push by the UK government to reduce regulation to help stimulate economic growth.
Sam Woods, a deputy governor of the Bank who leads the PRA, wrote in a letter to Meg Hillier, the chair of the Commons Treasury committee, that he and the FCA's chief executive, Nikhil Rathi, were choosing to "remain alert to the risks of groupthink" within the existing supervisory framework. They would not ask companies to report what measures they were taking to improve representation of women and minorities in their organisations.
Dit verhaal komt uit de March 13, 2025 editie van The Guardian.
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Dit verhaal komt uit de March 13, 2025 editie van The Guardian.
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