IA to issue 'amber top' to FTSE 350 companies not disclosing ethnic diversity of boards

'Decisive action' to meet Parker Review targets

FTSE 350 companies that fail to disclose either the ethnic diversity of their board, or provide a "credible action plan" to achieve the Parker Review targets in the upcoming AGM season, will be issued an 'amber top' by the Investment Association's Institutional Voting Information Service (IVIS).

The IA said that it was also increasing the threshold for the number of female directors on boards as investors seek "greater progress" on gender diversity. Companies with 30% or fewer female directors on their board will receive a 'red top' from IVIS, its paid-for service that provides independent information on listed companies - an increase on last year's 20% threshold. FTSE 100 boards falling short on ethnic diversity transparency standards The trade body has outlined its expectations of companies on issues including climate change, diversity, and executive pay ahead of this ye...