(Bloomberg) -- UK regulators want to boost diversity and inclusion in the financial services sector by requiring firms to set targets and collect more data on their efforts.
The proposals also include new rules and guidance “to make clear that misconduct such as bullying and sexual harassment poses a risk to healthy firm culture,” the Financial Conduct Authority said in a statement Monday. The guidance is meant to help firms “take decisive and appropriate action” against employees who misbehave, the FCA said.
The FCA and the Prudential Regulation Authority — the City of London’s twin regulators — are seeking views from the industry until Dec. 18, before publishing their final rules next year.
The move follows a 2021 discussion paper, which received “broadly positive” feedback, the FCA said. The watchdog has faced criticism for being too slow to investigate non-financial misconduct.
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