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UK regulators backtrack on diversity rules and delay action on misconduct

Commuters walk across London Bridge and past Fishmongers' Hall early morning.
Photo: John Keeble/Getty Images

Jean Hurley

4 min read
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Industry response as FCA and PRA says it will not update rules on diversity and inclusion and will pause non-financial misconduct action.

The FCA has announced a significant shift in its regulatory priorities, opting to forego new diversity and inclusion rules and delaying further action on non-financial misconduct. This decision, conveyed in a letter to the Treasury Select Committee, follows a joint consultation with the PRA in September 2023 and comes amid

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