A 21 January speech by FCA senior adviser Georgina Philippou outlined why diversity and inclusion matter to the regulator and what it is doing about it.
Philippou acknowledged that there is a general lack of diversity in the financial services sector, which, she said, benefits nobody. She emphasised the distinction between diversity and inclusion. ‘Without an inclusive culture,’ she said, ‘the value of diversity, when achieved, will not be realised.’
She said the FCA wants to ensure a healthy financial services industry and by ‘mainstreaming’ diversity and inclusion into all its regulatory processes.
Philippou went on to stress that we all share responsibility for creating and maintaining more ethnically diverse and inclusive cultures in the financial service industry.
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