Be prepared: the rationale and intention behind PRA and FCA proposals for improving D&I in financial services
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The UK Financial Conduct Authority’s (FCA) and Prudential Regulation Authority’s (PRA) proposals for reform are broad and detailed but they focus on a few overarching themes: inclusion, personal conduct and individual accountability, risk management and data-led regulation.
Considering the proposals through the lens of these themes will help firms understand the rationale behind them and the best way to implement changes. We’ve prepared a short post drawing on the combined expertise and insights of lawyers in our employment and regulatory investigations teams, as well as experts in our strategic regulatory consulting business, to help firms prepare for the anticipated changes.
This is the first post in our series on the FCA and PRA proposals, under consultation until 18 December 2023 . Our next post will consider the scope of the proposals, guiding you through which firms will need to comply with what.
