Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Financial Conduct Authority’s consultation entitled Diversity and inclusion in the financial sector – working together to drive change, which closed on 18 December 2023, if she will recommend that the Financial Conduct Authority does not introduce a new regulatory framework on diversity and inclusion in the financial sector.

The Financial Conduct Authority (FCA) is a non-governmental body which is independent from the Treasury. Parliament has given it broad powers to make rules for the purpose of advancing its statutory objectives.

It is for the FCA to determine the next steps following its consultation, taking into account its objectives and the responses received. The government does not have powers to intervene in their decision making.

The government continues to engage closely with the FCA on issues relating to financial services regulation.