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FCA Warns Bankers To Take Discrimination Seriously

Law360, London (December 19, 2018, 5:19 PM GMT) -- The U.K.'s City watchdog warned senior managers at financial services firms on Wednesday that their jobs could be at risk if they do not take diversity seriously, following a surge of whistleblowing complaints about "nonfinancial behavior."

The Financial Conduct Authority has told bosses that it will scrutinize the way their firms handle allegations of sexual harassment, racism or homophobia in the same way it scrutinizes their handling of financial misconduct when deciding whether they are deemed "fit and proper" to work in finance.

"In our judgment, the way a senior manager approaches issues around diversity may be relevant to our assessment...

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