 will go further on diversity and inclusion, setting out new 'minimum standards' that regulated companies must meet. The proposals will mandate larger companies to collect, report and disclose diversity and inclusion data; establish and implement a diversity and inclusion strategy; set targets to address under-representation; and recognise a lack of diversity and inclusion as a non-financial risk. Questions have also been raised about the FCA's ties to controversial charity Stonewall, which has previously come under fire over its trans rights guidance. Sheldon Mills, a senior executive at the watchdog, previously served as chairman of Stonewall's board of trustees. Asked if the FCA has become too close to Stonewall, Mr Rathi said: 'No, I don't think so. Those decisions were all made by our HR team through the appropriate governance channels. 'And we will always look to make sure we do what's right for our colleagues and make sure we have a diverse and inclusive workforce so that we can deliver our objectives as effectively as we can. I'm re){kind=link}
Interview: Nikhil Rathi on how the FCA plans to reassert itself after a tumultuous summer
The City watchdog is to launch a crackdown on workplace misconduct following allegations of sexual harassment against the hedge fund tycoon Crispin Odey.
In a consultation paper to be published this week, the Financial Conduct Authority (FCA) will propose tougher rules against perpetrators and companies that fail to punish abusive behaviour at work.
The changes will include new guidance on “serious instances of harassment and bullying” and how “non-financial misconduct” forms part of the regulator’s “fit and proper” test for financial services employees.
Nikhil Rathi, chief executive of the FCA, told The Telegraph: “Financial services workplaces need to be safe places for women.