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ARTICLE · 05 OCTOBER 2023

Investment Management Update - September 2023

Macfarlanes LLP
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Welcome to the latest edition of our investment management update. This publication has been tailored to highlight topical news, cases and changes in the law impacting the investment management sector.

GlobalStrategy
Lora Froud
Lora Froud
Alexandra Green
Alexandra Green
Michael Sholem
Michael Sholem
Gavin Haran
Gavin Haran
Welcome to the latest edition of our investment management update. This publication has been tailored to highlight topical news, cases and changes in the law impacting the investment management sector.

UK

  • On 25 September 2023, the FCA and PRA jointly consulted on mandating large regulated firms to make diversity-related disclosures as well proposing changes to better integrate non-financial misconduct considerations into staff fitness and propriety assessments, the application of the Conduct Rules and the Threshold Conditions. The proposals would update the existing regulations on ethnicity and gender reporting on a "comply or explain" basis to instead require firms with more than 250 employees to report across a range of diversity-related characteristics. The largest firms would also be required to have targets and a strategy to address under-representation. The consultation will close on 18 December 2023 and reporting would begin in 2026.

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