Following their recent consultation (https://lnkd.in/e6rh58wg), the UK’s financial regulators are currently developing a new regulatory framework on Diversity and Inclusion (D&I) to accelerate the pace of meaningful change in the financial sector.
According to the PRA/FCA, “greater levels of D&I can improve outcomes for markets and consumers. In particular, by helping reduce groupthink, supporting healthy work cultures, improving understanding of and provision for diverse consumer needs and unlocking diverse talent, supporting the competitiveness of the UK’s financial services sector.”
Proposals set out for firms include requirements to:
Develop a diversity and inclusion strategy setting out how the firm will meet their objectives and goals.
Collect, report and disclose data against certain characteristics.
Set targets to address under-representation.
Once the final regulatory requirements are published this year, banks will have just 12 months to comply.
Now is the time to act and drive systemic change across the industry.
I am very excited to be chairing the launch event of Race Excellence Association, a new initiative bringing together a powerful community of exceptional leaders committed to advancing racial equity in the business world.
Join our ONLINE Launch on 18th April at 5pm UK time
https://lnkd.in/eYjiNBJS
Speakers:
Sandra Kerr CBE – race equality director of Business in the Community and a notable figure in the realm of diversity, inclusion, and equality. She’s renowned for her tireless advocacy and leadership in promoting diversity and equality in the workplace, particularly focusing on race and ethnicity. As a chief executive of the Race Equality Charter, Kerr has spearheaded initiatives aimed at addressing racial inequalities in various sectors, including academia and business.
Ollie Folayan MBE (PhD CEng FIChemE) – distinguished leader and advocate for diversity, inclusion, and equality, with a focus on engineering and technology sectors. As chair of the Association for Black and Minority Ethnic Engineers (AFBE-UK), he has been instrumental in championing initiatives to increase representation and support for minority groups in these fields.
Dr Gifford Rhamie (PhD, FAETC) - an esteemed expert in the field of equity, diversity, and inclusion, renowned for his innovative approaches to fostering inclusive environments.
Ann Palmer FCCT - a distinguished education leader with a remarkable track record of innovation and excellence in the field of education and beyond. With extensive experience spanning decades, she has held various leadership roles within educational institutions, demonstrating a steadfast commitment to improving educational outcomes for students and young people.
Ignite Excellence. Empower Change. Join Race Excellence.
www.raceexcellence.com
#diversityandinclusion #banks #ukfinance
