Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Financial Conduct Authority's press release entitled Update on the FCA’s enforcement transparency proposals, published on 12 March 2025, whether she has had discussions with the (a) FCA and (b) PRA on their decision not to introduce rules to improve diversity and inclusion; and what are the expected legislative developments in this area mentioned in the press release.

Treasury Ministers and officials regularly meet with both the FCA and the PRA to discuss their work.

As set out in the King’s Speech last July, the government is committed to making the right to equal pay effective for ethnic minority and disabled people and introducing mandatory ethnicity and disability pay gap reporting for large employers. These measures will be part of the upcoming Equality (Race and Disability) Bill.