'The Nasdaq proposed requiring the majority of companies to have at least two diverse board directors: one woman and one person who identifies as either an underrepresented minority or LGBTQ. It also put forward a “comply or explain” requirement.'
The FCA has proposed changing the rules for companies listed in the U.K. to include a 'comply or explain' requirement for not meeting diversity targets.
The FCA proposed that at least 40% of company boards should consist of women.In addition, the FCA said companies should have at least one woman holding a senior board position.The regulator also proposed that at least one member of a company's board be from a non-White ethnic minority background.
Getty ImagesLONDON — Britain's financial watchdog has proposed changing the rules for companies listed on the U.K. stock market to include a "comply or explain" requirement for not meeting diversity targets.The U.K.'s Financial Conduct Authority put forward its proposals on diversity and inclusion in a consultation paper published Wednesday.
It proposed that at least 40% of company boards should consist of women, including those who self-identify as a woman. As of January 2021, women accounted for 36% of company board positions on the U.K.'s main FTSE 100, according to data from theHampton Alexander review headtopics.com
.In addition, the FCA said companies should have at least one woman holding the senior board positions of chair, CEO, senior independent director or chief financial officer.The FCA also proposed that at least one member of a company's board be from a non-White ethnic minority background. A
reportby Green Park Business Leaders, published in February, found that just 10 of the 297 people in the top three roles of FTSE 100 companies had ethnic minority backgrounds.The financial regulator said it wanted listed companies to publicly disclose whether they had met specific board diversity targets in their annual financial statements. If not, companies would have to explain why they had failed to meet these goals, also known as a "comply or explain" requirement.
"This allows companies flexibility to provide relevant context on their approach to board diversity, whether or not these targets are met," the FCA said in its paper.Along with these targets, the FCA said it wanted firms to publish data on the composition of their boards and the most senior members of executive management teams.
Nasdaq diversity proposalpush by U.S. exchange operator Nasdaq to increase diversityamong the 3,000 companies listed on its stock exchange.It filed a proposal in December asking the Securities and Exchange Commission to approve new rules on the make-up of company boards. The Nasdaq proposed requiring the majority of companies to have at least two diverse board directors: one woman and one person who identifies as either an underrepresented minority or LGBTQ. It also put forward a "comply or explain" requirement. headtopics.com
As of March, however, theNasdaq's proposal had been delayed as the SECtook more time to review the plan.Speaking in March at the launch of a charter on women in finance, FCA CEO Nikhil Rathi said that the Nasdaq had taken the lead with its listing rules and said the U.K. watchdog was exploring similar requirements.
He said: "I would encourage all capital markets participants to consider the reasons why there are so few female CEOs and CFOs or CEOs and CFOs of color presenting during IPOs or when capital is being raised — are there challenges in the culture of private equity, underwriting, equity syndication? What more can we do to sponsor and celebrate female business leaders and entrepreneurs?"
Taiwan family helps keep hand-made 'joss paper' tradition alive
Painstakingly, women of retirement age adorn sheet after sheet of yellow joss paper with gold and silver leaf and red paint to satisfy last orders for sacrificial cash offerings ahead of next month's Lunar New Year festival. Read more >>
Just put in place by competency not because of some token placement
UK court overturns govt go-ahead for Stonehenge road tunnelA British court on Friday overturned government approval for the construction of a controversial road tunnel close to the Stonehenge stone circle, following opposition from historians, archaeologists and druids.
UK court rejects govt plans for Stonehenge road tunnelCourt ruling comes after UNESCO confirmed that the prehistoric site would be added to its 'in danger' list and warned it could lose its World Heritage Site status.
UK Cat Killer Sentenced To Prison For Stabbing 16 Cats, Killing 9Former security guard Steve Bouquet was convicted of the brutal attacks on cats in the English city of Brighton. I'm confused. If he'd eaten them would it have been OK? Are cats different from rabbits and chickens little porky pigs. Has world stark FUCKING MAD? Those aren't good odds. He's not even good at it. nice
UK Cat Killer Sentenced To Prison For Stabbing 16 Cats, Killing 9Former security guard Steve Bouquet was convicted of the brutal attacks on cats in the English city of Brighton.
UK prime minister's wife says she's pregnant again LONDON (AP) — British Prime Minister Boris Johnson’s wife, Carrie, said Saturday that she is expecting the couple’s second child. Carrie Johnson announced her pregnancy in a post on Instagram in which she also revealed that she suffered a miscarriage earlier this year. Sharp shooter Mr Johnson is..perhaps!! I'm happy to join those who are sharing the good news about lisa . I'm not persuading anyone to trade with her but i advise every investor to make the right choice with lisaCammpbell i got my withdrawal safely without any interruption. Looks like with Covids free time, someone was a lil randy.
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