UK's FCA's view on diversity and inclusion

The Financial Conduct Authority (FCA) in the UK has published a speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, on 'Class, cliques and social codes: doing more on diversity.'

Highlights

• The UK's FCA sees diversity and inclusion (D&I) as a mainstream business issue that speaks to a firm’s culture and conduct.
• 75% of UK households use the services of an asset manager – this is a sector whose success depends on its ability to attract capital from investors of all backgrounds, demographics and income levels.
• Change won’t come overnight. Progressing on the issue of D&I means evaluating the specific barriers in your organisation, coming up with practical strategies to overcome them and evaluating what works and what doesn’t.
• This is no longer an issue that can be swept under the rug – the public have expectations about the firms that serve them and are increasingly vocal about them.