A piece in The Guardian. First, the good news:
“The City’s top two regulators have said they will not bring in new diversity and inclusion rules for financial firms because they want to avoid imposing extra “regulatory burdens” and costs, in the latest sign of a retreat from efforts to help underrepresented groups.” [J4MB translation into plain English: “… a retreat from efforts to increase the numbers of people from underrepresented groups, despite those groups not being held back by any discriminations, especially wimmin”.]
Then, the bad news:
“The Bank of England’s regulatory arm, the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) said they would instead support “voluntary industry initiatives” aimed at boosting diversity and inclusion in the financial sector.”
If the industry initiatives are truly “voluntary”, why would the PRA and FCA have any need to “support” them?
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