weightmans – Diversity and inclusion in the financial services and insurance sectors — implementing key initiatives

Diversity and inclusion (D&I) reporting is a key focus under the umbrella of ESG in which regulators are taking an increased interest, not least because of the positive impacts on business growth and corporate governance. Further to the joint discussion paper (DP21/2) issued by the Financial Conduct Authority (FCA) and Prudential Regulatory Authority (FRA) and the subsequent consultation process, it is expected that reporting requirements for large firms will very soon be implemented. Policy statements are expected in early 2024 with a 12-month implementation period for firms.