Financial regulators want to make financial services workplaces more diverse and inclusive.
This will help to create better workplaces, improve decision-making, and make financial services firms safer and sounder. It will also help firms to better understand the needs of their diverse customers.
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) are proposing new rules and guidance to make it clear that bullying and sexual harassment are not tolerated in financial services workplaces. This will help firms to take action against employees who engage in such behaviour.
Flexibility is a key focus within the proposals as every organisation is different, so will need to devise their own solutions. Most of the requirements, including setting targets, regulatory reporting and disclosure, would only apply only to the largest firms.
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