FCA's Butler: Diversity is fundamental to business success and reduces failure

'Impress on senior management the importance of diversity’

Executive director of supervision for wholesale and specialist investment at the Financial Conduct Authority (FCA) Megan Butler has warned firms the current pace of change on gender diversity "must not just be a flash in the pan", and the regulator will be putting pressure on firms to maintain progress.

In a keynote speech at the Women in Finance Summit, Butler captured the urgency of the need for change by referencing a "recent" incident where a female FCA supervisor was referred to as "little lady" by a "senior leader from one of the UK's biggest banks".  Morningstar: Males take 90% of newly-created fund management roles She identified the Senior Managers and Certification Regime (SM&CR), which is "transforming the culture of accountability across financial services", as giving the FCA the scope to take action on diversity.  As a result of SM&CR, which places personal liability ...