Much more needs to be done to create a truly diverse and inclusive financial services sector according to the UK regulators, FCA and PRA.
The regulators have released a joint Discussion Paper, DP21/2, looking at how to accelerate the diversity and inclusion agenda with a focus on meaningful change.
The importance of diversity and inclusion has been a regular topic within FCA speeches and publications in recent years, often connected to their thinking on what helps to create the right culture.
The agenda within this paper links to vulnerable customers, treating customers fairly and the enhanced standards of care recently proposed as part of the new Consumer Duty (see CP 21/13).
The deadline for responding to the paper is 30 September 2021.