Who's At The Table? Proposed Diversity Disclosure Measures For Financial Institutions

On February 15, 2025, the Department of Finance published the proposed Diversity Information Disclosure Regulations (the Proposed Regulations), presenting measures to require federally regulated financial institutions (FRFIs) to disclose information about certain groups (referred to as "designated groups") in senior management positions at the FRFI.

Aiming to close a long-standing legislative gap, the Proposed Regulations will require distributing FRFIs to disclose diversity related information about their senior leadership. The stated goal of the Proposed Regulations is to provide stakeholders with a clear standardized vision of the composition of who is represented in decision-making roles as members of senior management.