
Have we reached peak EDI?
As the old saying goes, ‘when American sneezes, England catches a cold’. This week, the two major city watchdogs announced they will be ditching planned ‘Diversity and Inclusion’ regulation. The Financial Conduct Authority (FCA), the regulator for Britain’s financial services sector, first announced their plans to impose extensive new Diversity and Inclusion rules in 2023. After significant pushback at the time, they have finally declared it has ‘no plans to take the work further’. The Prudential Regulation Authority (PRA), the Bank of England’s regulatory arm, has also issued a statement saying that they are not proceeding with similar proposals. Is this the first sign of a turning point in the
