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FCA quarterly consultation proposes changes to clarify where diversity reporting may be located under corporate governance reporting requirements

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04 Dec 2017

The Financial Conduct Authority (FCA) has, as part of its quarterly consultation procedure, proposed changes to clarify where diversity reporting may be located under corporate governance reporting requirements.

As currently drafted, section 7.2.1R of the DTR on corporate governance statements, does not explicitly indicate that the requirements for reporting by certain issuers on their diversity policy in accordance with the provisions of the Accounting Directive (AD) and specified in DTR 7.2.8AR, should be included, where applicable, within the corporate governance statement required under DTR 7.2.1R.

Additionally DTR 7.2.9R which gives the option to the issuer to set out its corporate governance statement in a separate report published together with its annual report, or alternatively in a document published on the company’s website, currently does not indicate that the information on diversity policy must also be included, where applicable in the chosen form of communication.

The FCA therefore proposes to change the wording of DTR 7.2.9R and DTR 7.2.1R to address this omission.

The full consultation – see chapter 3 is available on the FCA website.

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