UK watchdog warns bankers over failure to take diversity seriously
Britain’s Financial Conduct Authority says managers must stamp out bullying, homophobia and other unacceptable conduct
London — Senior managers in financial services could lose their jobs if they fail to tackle bullying, homophobia and other unacceptable conduct in the workplace, Britain’s Financial Conduct Authority says. Under the authority's rules, people must be deemed “fit and proper” to work in the finance industry in Britain, but this requirement also encompasses a broader view of workplace conduct, the watchdog warned. Christopher Woolard, the Financial Conduct Authority executive director for strategy and competition, said the watchdog and financial firms had already identified individuals as not “fit and proper” because they had not taken this broader definition seriously. “The result being that they were unable to take up or continue in their role,” Woolard said. “In our judgment, the way a senior manager approaches issues around diversity may be relevant to our assessment of their competence and character.”
The Financial Conduct Authority received its highest number of disclosures ...
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