The UK Financial Conduct Authority (FCA) has launched a consultation on a robust new regulatory diversity and inclusion (D&I) framework in the financial sector. In its accompanying consultation paper, the FCA explains that promoting D&I will improve outcomes for consumers and markets by reducing groupthink, supporting healthy work cultures, unlocking diverse talent, and improving understanding of and provision for diverse consumer needs.

The paper contains several proposals aiming to set clear standards and expectations for firms, including: