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PIMFA WEEKLY NEWS BULLETIN | 25 April 2022 Dear Nigel,
Welcome to the PIMFA Bulletin; grab a coffee and take 10 minutes to read the latest news impacting you and your firm.
FCA publishes its policy statement on diversity and inclusion on listed company boards and executive committees
On the 20th April, the FCA published PS22/3, aiming to improve transparency on the diversity of company boards and their executive management and to drive further progress in this area.
The new Listing Rules require listed companies to include a statement in their annual financial report setting out whether they have met specific board diversity targets. The reporting requirements are also being expanded to cover the diversity policies of key board committees. The FCA will not be setting ‘quotas’ for companies to meet as the listing rule diversity targets are not mandatory. It will however provide a positive benchmark for issuers to report against by setting targets on a ‘comply or explain’ basis for the representation of women and people from a minority ethnic background. The targets are: