UKSIF response: FCA’s CP23/20, Diversity and inclusion in the financial sector – working together to drive change

In recent months, we have been very supportive of the FCA’s measures to more swiftly advance greater levels of diversity, in all its forms, within the UK’s financial services and investment industry and the latest regulatory expectations set out for firms to be more transparent on their diversity and inclusion (D&I) objectives and strategies. We are optimistic that the latest proposals set out by the regulator in CP23/20 can contribute towards delivering a more inclusive industry in the coming years.

We continue to clearly recognise the enormous benefits that a more diverse and inclusive culture will bring to our industry as a whole and across all businesses at large. We have long seen a need for all regulated firms to take more active steps to advance a more inclusive sector, and also among investee companies.

We support the regulator’s objectives outlined in CP23/20, as well as the majority of the draft proposals, which build on the initial Discussion Paper (DP 21/2) and a number of the themes highlighted earlier this year in DP23/1: Finance for positive sustainable change. This includes regulated firms reflecting internally on their ESG governance and culture initiatives, and considering where more action may be needed.

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