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FRC opens consultation on boardroom diversity

A consultation on improving boardroom diversity among Britain's listed companies could result in fewer women needing an employment discrimination claim solicitor. The Financial Reporting Council (FRC) is looking at revising the UK Corporate Governance Code to require companies to publish their policy on gender diversity at board level and report on it annually. It follows recommendations made by Lord Davies in his report earlier this year that included listed companies setting their own targets for increasing the role of women. FRC chairman Baroness Hogg said: "Diversity widens the perspectives brought to bear on decision-making, avoids too great a similarity of attitude and helps companies understand their customers and workforces." The proposed reforms appear to have the backing of the business community, with the CBI welcoming the consultation. Director for competitive markets at the CBI Matthew Fell said it was "good news" that the FRC is following a course of internally-set diversity targets. "Given the slow progress on improving boardroom diversity, the FRC should implement changes to the Corporate Governance Code sooner rather than later," he added. Posted by Alex McLean
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