🧵Today we are publishing our response to
@TheFCA
consultation on Diversity & Inclusion. The proposals include requirements for large firms to collect data on personal characteristics & widens the scope of financial misconduct.
We have a no. of concerns with the proposals: /1
We responded with the following reply:
“Employees at Aviva have a range of political views and vote for a range of parties. They also have a range of beliefs on sex and gender matters. There are staff who want and support single-sex provision including in hospitals and /2
and be seen to take, a politically neutral stance on this highly emotive and important topic. This is to protect everyone’s rights in the workplace and ensure a truly inclusive environment.
#SEEN
#SEENintheCity
” /4
staff who don’t. The same can be said of Aviva customers. SEEN in the City is the only network for financial services employees that focusses on rights and protections that relate to sex. We also support freedom of belief in this area and believe employers should take /3
We recently replied to a Linked In post by a women’s banking network and our comment has been deleted and comments turned off! Women have had just about enough of being shut up and let down. We expect and deserve better than this!!
#LetWomenSpeak
#SEEN
♀❌No requirement for firms to collect data on sex, can choose sex or gender.
It is vital that employee data can be disaggregated by sex in order to tackle sexism and understand differing outcomes for women & men. Sex is also protected in law so should be collected. /2
🤰❌ No proposal to include a metric on pregnancy and maternity, replaced by a sex-neutral metric on parenting responsibilities.
Data on parenting responsibilities will be of limited use unless disaggregated by sex, noting parenting responsibility typically impacts careers /3
Solidarity with Civil Service
@seen_network
whose members have been targeted in the workplace for their protected beliefs.
Please follow and support
#SEEN
The FCA's proposals can be found here:
We are the only industry group raising the importance of proper data on sex in the workplace.
Please follow and support us
#SEEN
/END
of women and men differently. It is also important to collect data on women who have given birth to understand how this impacts progression at work. /4
eye of the beholder. Furthermore, the definition for discrimination goes beyond the protected characteristics laid down by Parliament in the Equality Act.
You can read our full response to the FCA here: /6
📘❗Draft FCA Handbook text extending the rules in relation to discrimination and misconduct is unclear and risks resulting in unfair outcomes.
We are concerned with the language proposed which includes phrases such as ‘morally reprehensible’ & ‘disgraceful’ which are in the /5
@JamesEsses
@monzo
@JamesEsses
Anyone who is gender critical and works for a bank or financial services company should get in touch, join our network, meet like-minded professionals and help change the culture to support freedom of belief in relation to sex and gender issues
#SEEN
*NEW* - Our letter to the Chancellor of the Exchequer: Concern about the FCA and PRA Diversity & Inclusion proposals.
See following post for link to the full letter ⬇️
We extend our thanks to the Minister of State for Women and Equalites, Kemi Badenoch for writing to the FCA and PRA about their D&I proposals, covered in the Times today (link at end of thread) /1
@NickFletcherMP
@TheFCA
We also wrote to the Chancellor with our concerns regarding the approach of the key financial regulators to D&I. Our letter is here:
Headline sponsor of Lesbian Visibility Week: London Stock Exchange Group
@LSEplc
. Other corporate sponsors:
@EYnews
@BNPParibas
@BTGroup
.
Who is signing off on this?
If your attempt to highlight "Lesbian Visibility Week" is partnered with organisations insisting that men can be lesbians (and kids can be trans), you are a walking oxymoron - with the emphasis on moron.
Sex and the FTSE 100🧵
We reviewed the Annual Reports of the FTSE 100 companies to assess compliance with new FCA requirements for listed companies to report the number of women and those from minority ethnic groups on their boards /1
The Pensions Regulator Equality, Diversity and Inclusion strategy:
“the Equality Act 2010 protects ‘sex’ and ‘gender reassignment’, but in this strategy we use the term ‘gender’”
Was this the influence of Stonewall?
#SexMatters
#SEEN
“organisations including Sport England, *the Pensions Regulator*, Historic England and Arts Council England paid £3,000 each for membership during this financial year”
No surprises re these orgs.
@TPRgovuk
has concerned us for some time.
#Stonewall
Solidarity with Civil Service
@seen_network
who have sent a letter to the cabinet secretary detailing ‘widespread bullying’ against their members.
Shocking story linked here:
Telegraph: "Trans rights activists in Civil Service ‘undermine’ policies, claims GC group
@seen_network
said its “most serious concerns” pertain to the
@MoJGovUK
... [which is] “impacting on government policy making”.
Archive:
Financial Service Regulators at the
@TheFCA
have proposed highly divisive EDI regulations for our hugely important financial services sector.
Their proposals will embed contested & unscientific gender ideology, which harms women, across the sector.
22 Conservative MPs & 18
We are quoted in this piece on the gender pay gap along with
@NoXYinXXprisons
Surprisingly enough we think the
#genderpaygap
should be based on sex…
Our quote in the following post ⬇️
🧵We have written to the Chancellor of the Exchequer in relation to the FCA/PRA D&I proposals. This is covered by the Telegraph today along with commentary on the
#genderpaygap
:
“organisations including Sport England, *the Pensions Regulator*, Historic England and Arts Council England paid £3,000 each for membership during this financial year”
No surprises re these orgs.
@TPRgovuk
has concerned us for some time.
#Stonewall
We are Seen in Sport – a network for players, parents, coaches, and officials who believe that female categories were instigated by governing bodies precisely because there is a biological difference between men and women.
SEENinJournalism is a new network for all reporters, columnists, investigative journalists, producers, editors and content-makers across platforms, who seek to restore accuracy and impartiality to the media coverage of sex and gender.
/
A cultural change at banks is required. Many employees feel unable to challenge the increasing politicisation of banks for fear of suffering discrimination themselves. We know this from the stories of members in our network. We would be happy to discuss with
@NatWestGroup
Many employees at banks are also ‘gender-critical’ parents. We know this as they are in our network. We encourage more staff at FS firms to join us and help change the culture in these firms to support freedom of belief in this highly politicised area.
However, only 2% of the FTSE 100 are clear that they count women on the board on the basis of sex not gender identity: SSE Plc and Airtel Africa Plc
@SSE
@AirtelAfica
/5
“For a while the commentary has been about the need for ‘authenticity’ and to ‘bring our whole self to work’, […] perhaps we should be encouraging people to bring our professional selves to work. Businesses aren’t political forums.”
@SeeninHR
@seen_network
"We’re pushing ourselves; we are supportive and relevant when it matters most. This means being quick to respond to the big issues as they happen, giving the profession a voice & offering members the direction they need, when they need it."
@cheese_peter
For some asking: *Within* the data that large FCA-regulated firms are being asked to submit to create their plans to remedy underrepresentation, companies can decide whether they opt to focus on sex OR gender.
Why does this matter? What are regulated firms? Well, if you have a bank account it will include that bank.
If you have a mortgage or a pension it will include that provider. Such firms wont need to collect adequate data on women in their workforce if these proposals go ahead.
The FSU has responded to two consultations run by the financial regulators, the FCA and the PRA. We’re concerned that the proposals will force regulated firms to embed politically contentious diversity and inclusion policies deeper into their businesses.
FCA has a Public Sector Equality Duty. Choosing whether or not to pay due regard to a protected characteristic is not consistent with this and it should be a data field regardless because
#sexmatters
For some asking: *Within* the data that large FCA-regulated firms are being asked to submit to create their plans to remedy underrepresentation, companies can decide whether they opt to focus on sex OR gender.
‘The FCA may be pursuing gender ideology at the expense of women’s rights’
Thank you Lord Reay for highlighting some of our concerns with new D&I rules proposed by FCA and PRA. See our pinned tweet for more.
Write to your MP:
Video via
@carolinefff
Our letter incl. appendices:
✍️ Write to your MP asking them to write to the Chancellor on your behalf to intervene and stop
these proposals going ahead as drafted.
#SexMatters
#SEEN
📣New report on sexism in the city has been published for
#InternationalWomensDay2024
Some of our members responded to the inquiry as the only industry group standing up for sex- based rights and protections. Sex matters. Follow and support us
#sexmatters
#SEEN
🚨 Published today 🚨
🐌 Efforts to tackle Sexism in the City are moving at a snail’s pace.
💷 Despite minor improvements in the sector, cultural change is needed to address sexism and misogyny in financial services.
🔎 Read the full report below 👇
from priorities such as economic growth. She also raised concerns about suggestions that companies should report “gender identity” instead of or as well as someone’s sex. She said this approach was not in line with the Equality Act.”’ /5
We have also responded to the consultations by these key financial regulators on D&I. See our pinned post for what we think. We have also written to the Chancellor with concerns re these orgs and their Public Sector Equality Duty.
@hmtreasury
@Jeremy_Hunt
@EHRC
@CommonsTreasury
The FSU has responded to two consultations run by the financial regulators, the FCA and the PRA. We’re concerned that the proposals will force regulated firms to embed politically contentious diversity and inclusion policies deeper into their businesses.
19 companies adopted a gender identity approach to reporting board diversity. No board directors in these companies disclosed a gender identity other than ‘man’/‘woman’ but we note ‘other’ is a reporting field available under the new rules and adopted by many of these co's /6
‘“My role as minister for women and equalities in particular often involves the killing of bad ideas. Sometimes it means doing things like writing to the FCA and PRA, as I did a few weeks ago, warning them against their proposed mandate of equality quotas. /3
Poor oversight of diversity networks seems a widespread issue. Many companies in the private sector have staff networks that do not appropriately consider sex-based rights and freedom of belief. This is why
#SEENintheCity
exists.
Cabinet Office minister John Glen has ordered a review of Whitehall diversity networks and a "refresh" of civil service impartiality guidance to stop officials "using their jobs as a vehicle for political activism". A much needed initiative.
Something the law does not require and could be counter-productive.” In a letter to the FCA she accused the organisation of “regulatory over-reach” and “gold-plating” its obligations. She said that “de facto quotas” risk becoming a distraction and holding back companies /4
@ellpeas
@SpeechUnion
We are concerned at the level of fear and alienation experienced by employees who do not hold gender identity beliefs despite this position being protected by the Equality Act 2010. We set up our network to support employees in this position and advocate for protected /1
Surprised to see SP of the FCA say at timestamp 14.25 of this session that consistency of D&I data is important 🤔 FCA propose firms can choose to count women on the basis of sex OR gender identity. That won’t lead to consistency of data collection across the financial sector…
🗣 Yesterday, we held a session on our inquiry into Sexism in the City.
📽️ Watch Sarah Pritchard, Executive Director
@TheFCA
, talk about how they handle whistleblowing cases.
📺 Catch up on the session here:
Loving how much content this group have already got up on their account. Quite fitting as SEEN in Journalism we’d say😄✍️
The will be a game changer.
Follow and support
#SEEN
SEENinJournalism is a new network for all reporters, columnists, investigative journalists, producers, editors and content-makers across platforms, who seek to restore accuracy and impartiality to the media coverage of sex and gender.
/
One of the issues with the word gender is how inconsistently it's used. Even within the same document or paragraph of text it may be used as a synonym for sex in one place but means self ID gender in another. Clarity needed!
This aligns to existing Companies Act requirements and will also ensure that sex is given, and seen to be given, due consideration by the organisation. This does not preclude additional reporting on gender identity or other characteristics /14
At least 23% of the FTSE 100 companies, employing nearly 1.5m people, have a relationship with Stonewall which advocates for gender self-ID policies. 17% make note of this in their Annual Report publication /12
Our review found that at least 43% of the FTSE 100 companies have a board comprising of 40%+ women and at least one woman in either Chair, CEO, CFO or Senior Director positions /4
‘The letter from SEEN In the City said: “If the FCA go ahead with their proposals more companies may abandon collecting sex data and move towards a gender identity approach …
Companies that did include the word sex tended to do so once or twice in a short statement about employment practices in relation to anti-discrimination and equal opportunities /10
We believe this would not be consistent with protecting the rights of employees and in particular understanding and tackling structural sexism in the financial sector.”’
The approach adopted to reporting the number of women on the board for other companies was largely unclear, this may be addressed at future year-ends when more companies come into scope for the new targets /7
Our letter incl. appendices:
✍️ Write to your MP asking them to write to the Chancellor on your behalf to intervene and stop
these proposals going ahead as drafted.
#SexMatters
#SEEN
Please ask them why their D&I proposals CP18/23 don't properly reflect the protected characteristic of sex & how this can be consistent with their Public Sector Equality duty? Or fair to women in the sector.
Our comments re FCA equally apply to the PRA:
🗣 On Wednesday, we’ll be scrutinising the work of the Prudential Regulation Authority.
Questions may include the use of cloud computing providers within financial services and the speed of progress in implementing the Edinburgh Reforms.
🔎 Learn more 👇
When talking about diversity more generally the word gender is used and appears many times in most Annual Reports but it is not always clear what this means /11
Most companies were not yet in scope to report against the new FCA board diversity targets, but many disclosed the information required to assess compliance or voluntarily reported early /3
Whilst the FCA/PRA proposed rules do not relate to the gender pay gap, the proposals could influence the approach to pay gap reporting taken by organisations in the sector.
Link to story in comments ⬇️
It was incredible to welcome so many people from across Parliament to our first meet up yesterday!
#parliamentseen
We are blown away by the amount of interest and appetite for this network, so are really excited about what is to come!
@ellpeas
@SpeechUnion
characteristics that relate to sex. We advocate for workplaces where all employees can thrive free from fear of discrimination or harassment. We believe employers need to take a more robust approach in this area to protect their organisation & people.
#SEEN
#SEENintheCity
/End
@soniasodha
We encourage employees of banks to get in touch &join our Sex Equality and Equity Network ‘SEEN in the City’. We promote freedom of belief in relation to sex/gender & have staff from the retail banks ®ulators in our network. Join, meet like-minded staff, help make a difference
🧵Good Morning! We are the brand new Police SEEN UK network for all serving officers and staff who hold lawful sex realist and gender critical beliefs. We aim to provide a much needed voice of support for police officers and police staff who share our views.
More news coverage on
#genderpaygap
‘What can Whitehall civil servants have been thinking […] How can such a method of collecting information be remotely accurate enough to identify the scale of sex discrimination in pay?’
Link in comments ⬇️
See our pinned tweet for more info on the FCA proposals.
@bankofengland
(Prudential Regulatory Authority) are making analagous proposals for firms they regulate. Here’s their view of data collection for sex/gender/GI (see next post) ⬇️
This is serious!
@TheFCA
which regulates the financial services sector is suggesting that these corporate giants can ditch collecting data based on SEX & use 'self-defined' GENDER instead. What? That has no meaning in science or law. SO WHY? Write to your MP.
@WomensRightsNet
🧵