In a recent webinar on ‘Crafting EDI strategies in an evolving regulatory landscape’, formed in collaboration with the Association of British Insurers (ABI), Dr Matthew Connell, Director of Policy and Public Affairs at the CII addressed criticism faced by the FCA on the topic of DE&I in the context of regulation.
Dr Connell comments on the FCA’s approach, setting out that if the financial services industry only looks at the rules the FCA is proposing, and not at the cultural change that the rules are challenging firms to make, that the insurance profession “…would be missing out on something very fundamental…”. He also speculates that this can lead to the wrong kind of regulation, which is following up with more and more waves of prescriptive regulation that tends to be more one-size-fits-all.
Commentary is also included about the Treasury’s ‘Sexism in the City’ report.