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UK Prudential Regulator Reminds CRR Firms about Management Body Diversity
08/12/2016The UK Prudential Regulation Authority published an open letter to all firms subject to the Capital Requirements Regulation reminding firms of the requirement in the PRA Rulebook to have in place a policy promoting diversity on the management body. The letter follows a report by the European Banking Authority on Benchmarking Diversity Practices published on July 8, 2016. The PRA cited the report which highlighted that, of UK firms surveyed, only 15% had a policy to promote diversity on their management body. The PRA is also interested in how firms have promoted diversity among Senior Managers.
View the letter.
View the General Organisational Requirements.
View the EBA Report.
Financial Regulatory Developments Focus