Regulatory round-up

The UK’s Financial Conduct Authority has decided that women should make up a minimum of 40 per cent of boards at British listed companies and at least one director should be from a minority ethnic background. In addition, at least one senior position such as company chair, chief executive or chief financial officer should be held by a woman. 

The financial regulator announced after a consultation that a company will have to make annual statements showing how it is meeting the new rules, or explain why it has chosen not to comply. Those people who self-identify as a woman will qualify.