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D&I in financial services: UK proposals for mandatory data reporting and public disclosure

Post six in our blog series on the UK Financial Conduct Authority and Prudential Regulation Authority proposals to improve diversity and inclusion (D&I) in UK financial services considers the D&I data firms would be required to disclose under the new regime. 

As currently drafted, firms would need to report to the regulator and publicly disclose data against a range of demographic characteristics. Firms would also be encouraged to report and disclose against a number of voluntary criteria.  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, we consider what might need to be reported, challenges firms may encounter in collecting data and how (and by who) firms’ D&I data might be used post-disclosure.  We also highlight a number of potential challenges that firms should begin to engage with at this early stage. 

The next post in this series will explore data privacy consideration relevant to the regulators’ proposals. 

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