The financial services sector needs to look at the “cultural change” that the FCA is creating through its regulations surrounding equality, diversity and inclusion (EDI) rather than the regulations per se, the Chartered Insurance Institute has urged.

The FCA and the PRA have published joint proposals to boost diversity and inclusion across the financial services sector and to help tackle the scandals and poor behaviour.

The FCA and other regulators may set diversity targets in future for regulated firms.

The Chartered Insurance Institute to run a series of diversity and inclusion events with local institutes to celebrate and explain the benefits of diversity and inclusion for the profession during the ‘DiveIn’ festival in September.