Two top UK financial watchdogs confirm they are binning diversity diktats

Guido Fawkes: 12th March 2025: Political website reports on latest city decision to abandon woke.

"New rules, which would have enforced diversity quotas across the financial sector, have been ditched by the Financial Conduct Authority (FCA) and the Bank of England. They said they were ditching DEI targets in light of a “broad range” of feedback and “expected legislative developments” from the government. The FCA has also dropped its plan to ‘name and shame’ firms under investigation… Back in 2023, both regulators had insisted that boosting DEI could “reduce groupthink” and promote “healthy working cultures.” Their proposals would have forced 42,000 UK businesses to collect and report diversity data on employees. The Bank of England has also followed suit, scrapping its own planned DEI rules."

READ ALSO 

"The Bank of England has scrapped planned diversity rules amid a global backlash over the liberal corporate agenda... Regulators are to shelve proposals that would have forced 42,000 UK businesses to report diversity and inclusion data collected on their employees. It followed criticism from the industry and politicians about putting even more bureaucratic burdens on British business, and comes amid a wider fightback against so-called diversity, equity and inclusion (DEI) policies that critics say stifle growth and prevent companies from hiring on merit."

This follows a previous story from last month:

2ND FEBRUARY 2025: Rip up diversity rules ‘that will only create jobs in HR’, bosses demand

"Financial chiefs are calling on the City regulator to tear up plans to impose diversity targets in the latest sign of a mounting business backlash. Banks and investment firms have in recent months ramped up pressure on the Financial Conduct Authority (FCA) with claims diversity, equity and inclusion (DEI) rules would slow growth."