UK Regulators Scrap Diversity Targets for Financial Firms Amid Backlash
2025-03-12
Politico Europe
In a significant shift, the UK's financial watchdogs, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), have abandoned plans to introduce diversity and inclusion targets for City of London firms. The decision comes after facing criticism and backlash, including from former US President Donald Trump. The move is expected to impact the financial sector's approach to diversity, equity, and inclusion (DEI) initiatives. With a focus on promoting financial stability and consumer protection, the regulators will instead prioritize other areas of reform. This change may have implications for the industry's efforts to improve diversity and inclusion practices.
