Proposed Diversity Rules for Financial Firms Will Have ‘A Chilling Effect,’ Says Free Speech Group

Published on January 5, 2024

A proposed new regulatory framework on Diversity and Inclusion (D&I) for financial institutions will have “a chilling effect” on free speech, a civil liberty group has said. Publishing one of its responses to two D&I consultations, the Free Speech Union (FSU) said it’s “concerned” that the proposed rules would “embed politically contentious diversity and inclusion policies deeper” in British businesses and have “a chilling effect on the free speech of those who disagree with the ideology underpinning those policies,” such as gender identity ideology and critical race theory.  The consultations were run between Sept. 25 and Dec. 18 last year by financial regulators the Financial Conduct Authority (FCA), an arm of the Bank of England that regulates the conduct of nearly 45,000 businesses in the UK, and the Prudential Regulatory Authority (PRA), which supervises around 1,500 financial institutions including banks and insurance companies....

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