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Financial Conduct Authority (FCA) Diversity and Inclusion Standards (D&I) Prudential Regulation Authority (PRA)

King & Spalding

Newsflash – What do the UK’s new employment laws mean for Financial Services?

King & Spalding on

The UK’s new Labour government unveiled a package of new workers’ rights yesterday, with wide-ranging ramifications for employers. Whilst the most significant measures will not be implemented until 2026 at the earliest,...more

WilmerHale

Sexism in the City

WilmerHale on

#MeToo is still moving across the pond. On March 8, 2024, the House of Commons Treasury Committee published a report entitled “Sexism in the City” (referenced as “Report” in this article), which found that the...more

King & Spalding

DEI hard: new reports reveal UK workplace diversity challenges

King & Spalding on

This month has seen the publication of two UK government-backed reports relating to diversity and inclusion in the workplace. The Treasury Committee has published its report in relation to barriers faced by women in financial...more

Latham & Watkins LLP

Government Report Finds Financial Services Sector Could Work Better for Women

Latham & Watkins LLP on

The Sexism in the City report highlights key issues affecting women in financial services and sets out a number of recommendations to address them. On 8 March 2024, the House of Commons Treasury Committee published its...more

Proskauer Rose LLP

Regulation Round Up - February 2024

Proskauer Rose LLP on

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

BCLP

Personal Matters - How will the risks to firms from individuals’ behaviour increase in 2024?

BCLP on

Financial regulators in the UK have been interested for some years in the question of how personal behaviour can affect the risk profile of a financial institution. A recent SEC case suggests that US regulators may now be...more

WilmerHale

Toxic Culture Review: FCA Statutory Demand for Non-Financial Misconduct Data

WilmerHale on

“The wholesale insurance market in particular has a long way to go in having an inclusive culture...areas for improvement include...preventing and handling non-financial misconduct,” stated the Financial Conduct Authority...more

A&O Shearman

UK Bankers remuneration rules transitioning into 2024 and beyond

A&O Shearman on

2024 promises to be another busy year in the regulatory remuneration space. Banks will already be thinking about changes to their arrangements now the bonus cap has been lifted. Here’s a round-up of what else is new – some of...more

A&O Shearman

D&I in FS: how to get a head-start on the FCA and PRA proposals

A&O Shearman on

This is the last post in our series on the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) proposals to introduce a new regulatory framework on diversity and inclusion (D&I) in the financial...more

A&O Shearman

UK regulators expectations on governance and DI within financial services firms

A&O Shearman on

The recent proposals from the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) on diversity and inclusion (D&I) include proposals in respect of governance and oversight within in-scope firms....more

A&O Shearman

D&I as a non-financial risk: considerations for control functions

A&O Shearman on

Proposals from the UK financial regulators aimed at improving diversity and inclusion (D&I) in the UK financial services sector include an explicit expectation for all in-scope firms to consider a lack of D&I as a...more

A&O Shearman

UK FCA and PRA proposals for improving D&I: Senior Manager responsibility and oversight

A&O Shearman on

The latest proposals for improving diversity and inclusion in the UK financial services sector, published by the Financial Conduct Authority and Prudential Regulation Authority, include changes that will impact Senior Manager...more

A&O Shearman

DI in FS - senior management responsibilities and oversight

A&O Shearman on

The Financial Conduct Authority (FCA) and Prudential Regulation Authority’s (PRA) recent proposals demonstrate a divergence in approach when it comes to individual accountability and expectations of senior management in...more

A&O Shearman

UK Financial Conduct Authority proposes new rules and guidance on non-financial misconduct

A&O Shearman on

The UK Financial Conduct Authority's consultation on diversity and inclusion (D&I) in financial services proposes new rules and guidance on identifying and taking action in relation to non-financial misconduct such as...more

A&O Shearman

D&I in FS: new rules and guidance on non-financial misconduct

A&O Shearman on

The FCA is focused on reducing non-financial misconduct to enhance the reputation of the UK financial services sector. Spurred on by positive levels of engagement with its 2021 discussion paper, the FCA’s latest consultation...more

A&O Shearman

Tracking and improving inclusion in financial services: practical challenges and how to navigate them

A&O Shearman on

The latest UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) proposals for improving diversity and inclusion in financial services include requiring firms to report on six new inclusion metrics....more

A&O Shearman

D&I in FS: practical considerations for designing and implementing an inclusive culture

A&O Shearman on

Developing and maintaining an inclusive environment is crucial for realising the benefits of having a diverse organisation. With this in mind, the UK Financial Conduct Authority (FCA) and UK Prudential Regulation Authority...more

A&O Shearman

D&I in financial services: UK proposals for mandatory data reporting and public disclosure

A&O Shearman on

Post six in our blog series on the UK Financial Conduct Authority and Prudential Regulation Authority proposals to improve diversity and inclusion (D&I) in UK financial services considers the D&I data firms would be required...more

A&O Shearman

FCA and PRA DI Proposals - Balancing data protection considerations against D&I reporting duties

A&O Shearman on

The latest post in our blog series looking at the UK Financial Conduct Authority and Prudential Regulation Authority proposals to improve diversity and inclusion (D&I) in the financial services industry focusses on data...more

A&O Shearman

D&I disclosures: what D&I information will the UK regulators expect financial services firms to disclose?

A&O Shearman on

The UK financial services regulators’ proposals for creating a new regulatory framework for diversity and inclusion (D&I) in financial services include proposals that in-scope firms report various aspects of their D&I data on...more

A&O Shearman

D&I in FS: Data protection and D&I reporting

A&O Shearman on

The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are consulting on proposals to introduce a new financial services regulatory framework on diversity and inclusion (D&I) in the financial...more

A&O Shearman

Setting D&I targets: what the UK regulators expect from financial services firms

A&O Shearman on

The UK financial services’ regulators have introduced new proposals on setting diversity and inclusion (D&I) targets by firms. These proposals aim to address underrepresentation of particular demographics within firms and the...more

A&O Shearman

What the UK regulators’ proposals mean for D&I strategies in financial services firms

A&O Shearman on

The UK financial services regulators’ latest proposals for improving diversity and inclusion (D&I) include detailed proposals in respect of in-scope firms’ D&I strategies. The proposals, if implemented, would represent a...more

A&O Shearman

A new regulatory framework for D&I in financial services: overarching themes and trends

A&O Shearman on

The UK financial regulators’ proposals for creating a new regulatory framework for diversity and inclusion (D&I) in financial services are wide-ranging and detailed but have at their heart a few consistent themes. ...more

Akin Gump Strauss Hauer & Feld LLP

FCA and PRA Publish Consultation on New Rules relating to Non-Financial Misconduct

Key Points - Following a joint Discussion Paper in 2021 issued by the FCA and the PRA, both regulators have now issued Consultation Papers proposing new rules and guidance in relation to diversity and inclusion in the...more

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