Chancellor urged to Review FCA Diversity Proposals for Potential Overreach

Published on February 29, 2024

Chancellor of the Exchequer Jeremy Hunt was urged on Tuesday to review the Financial Conduct Authority’s (FCA’s) proposals on diversity for potential overreach. In a letter sent to the chancellor, 40 MPs and peers, including former Prime Minister Liz Truss and former home secretaries Suella Braverman and Priti Patel, said the regulator may have stepped outside of its remit. Under the proposals, which were published in a consultation last year, large businesses of 251 employee or more regulated by the FCA will be required to report employees’ demographic data, including age, ethnicity, religion, disability, and sexual orientation; and encouraged to report data on gender identity, socio-economic background, and parental and carer responsibilities....

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