We are a more effective regulator when we are truly representative of broader society. Find out more about our diversity, equity and inclusion (DEI) programme and progress.
Our DEI programme
In 2022, we used an evidence-based approach to conduct a major review of our internal DEI work. We launched a refreshed programme in April 2026 which runs to March 2030.
We are committed to being a diverse, equitable and inclusive organisation. Our DEI programme focuses on achieving business outcomes, embedding DEI and measuring impact.
Key objectives of our DEI programme are to:
- Address areas of under-representation.
- Ensure equitable opportunities for all colleagues regardless of their background.
- Foster an inclusive working environment for all.
- Improve the lived experience for disabled and neurodivergent colleagues.
Our programme is supported by a programme board, local DEI divisional delivery groups and our 10 diversity networks.
Some of our key achievements between 2022 and 2026 include:
Declarations and data visibility
- Publishing an internal DEI dashboard for all colleagues to review progress and trends.
- Increasing our personal data sharing rates across all demographic areas to over 70%.
- Launched a new declaration for neurodiversity.
Disability
- Achieving Level 2 accreditation under the Disability Confident scheme[1].
- Developing a new workplace adjustment policy and guidance to support our colleagues to access the adjustments they need.
- Launching disability inclusion workshops for our people managers, a mandatory core DEI e-learning module, along with DEI good practice, and accessibility and disability hubs on our intranet.
Paternity and personal circumstances leave
Successful engagement with our diversity networks and HR policy team on development of personal circumstances leave and enhanced partner/ paternity leave policies.
Recruitment
- Reviewing and updating our recruitment processes to ensure our job adverts, interview process and candidate support is more inclusive.
- Our Early Careers team have been externally recognised for its approach, with the FCA ranked in the HigherIn Top 100 Employers for Graduates and Undergraduates and nominated for the TargetJobs Emerging Talent Award.
Our representation targets
Gender balance
- 50% gender balance at manager level by 2030.
- 50% gender balance at technical specialist by 2035 with an incremental target of 40% by 2030.
We also have a target for gender representation at our professional support level. As of March 2025, 95% of colleagues at this level were female. Recognising our starting position, as well as turnover data and market factors, we have set the following target:
- 85% female and 15% male professional support level by 2030, and 75% and 25% by 2035.
Minority ethnic
- 25% minority ethnic representation at technical specialist and manager levels by 2030.
- 20% minority ethnic representation at SLT level by 2030.
- 4% SLT black representation by 2030.
We have continued to make progress toward our ethnicity and gender targets to improve representation within our senior leadership team (SLT). Our SLT includes heads of department, directors, executive directors, the chief executive and the chair.
In 2016, the FCA joined the first group of organisations to sign the Women in Finance Charter[2], which aims to increase the number of women in the financial services sector, particularly at senior levels. Through this charter, we set a goal for gender parity (50%) in our SLT by 2025.
In 2021, we expanded our gender and ethnicity targets beyond our SLT to include managers, technical specialists, leads and senior associates. Strengthening diversity at these levels is crucial, as they form the pipeline for future leadership.
In April 2025, we set new goals:
- We will monitor representation where our targets have been met to ensure we maintain or exceed these levels.
- We will continue to work towards meeting the targets which have not yet been met within refreshed timescales.
- We report diversity data and track progress using headcount figures to ensure accountability and transparency.
Our progress
The figures below represent colleagues at both the FCA and the Payment Systems Regulator (PSR).
Female representation
At the time of signing the Women in Finance Charter, female representation in our SLT was 39%. As of 31 March 2026:
- 50% of our SLT was female.
- The figure excluding the PSR was 50.6%.
We have also advanced gender diversity across key pipeline roles. As of 31 March 2026, female representation was:
- 44.3% among managers.
- 32.5% among technical specialists.
- 50.7% among lead/senior associates.
The figures excluding the PSR were 43.9%, 32.6% and 50.5%, respectively.
Due to the size of the SLT population, shifts in female representation can be significant as colleagues join or leave the organisation. We remain committed to maintaining or improving gender balance at all levels.
Minority ethnic representation
Our minority ethnic representation in the SLT has decreased over the past year. As of 31 March 2026:
- 13.8% of SLT members were from a minority ethnic background.
- Representation remained at 13.6% when excluding the PSR.
- Our black SLT representation was 2.5%, and 2.6% excluding the PSR.
Representation has increased across our pipeline grades of technical specialist and lead / senior associates, and decreased slightly at manager grade. As of 31 March 2026, the following identified as minority ethnic:
- 17.8% of managers.
- 24.8% of technical specialists.
- 33.8% of lead/senior associates.
The figures excluding the PSR were 17.8%, 24.6% and 34.1%, respectively.
Fluctuations in minority ethnic representation at SLT level can be significant as colleagues join or leave the organisation. We remain committed to maintaining progress and improving ethnic diversity across all leadership levels.
Reporting on our targets
Female and minority ethnic representation has increased across most grades over the past year. While this progress is encouraging, we will continue to focus on targets that remain outstanding. Our internal DEI programme will continue driving these efforts forward.
The tables below present data on female and minority ethnic representation since 2018. As more colleagues disclose their personal data, we apply this information retrospectively. As a result, historic figures may vary slightly from previous reports.
Chart
Data table
Female representation has increased over time across most grades, with the strongest progress seen at senior leadership level, while technical specialist roles remain the most imbalanced at 32.5%.
* From 2022, we started to report our progress against our targets to one decimal place to provide an additional level of granularity and insight.
** Manager and technical specialist were grouped together in reporting for 2018 to 2020.
Chart
Data table
* From 2022, we started to report our progress against our targets to 1 decimal place to provide an additional level of granularity and insight.
** Manager and technical specialist were grouped together in reporting for 2018 to 2020.
*** From 2022, we started to report on representation at lead and senior associate levels.
Diversity of our Board and executive management
Our Board
In line with our existing UK Listing Rule disclosures, as of 31 March 2026, the FCA’s own Board representation is as follows:
- 36.4% of our Board are women (4 out of 11).
- 18.2% are from a minority ethnic background (2 out of 11).
Most Board members are appointed by the Treasury, alongside the Secretary of State as appropriate. They are recruited through the public appointments process, which emphasises diversity to ensure leadership reflects society.
The Bank of England’s deputy governor for prudential regulation serves as a Board member and the FCA Chair also chairs the PSR Board.
Succession planning remains a key agenda item for the Board and its committees. As part of this process, they review diversity and inclusion objectives. To identify gaps and support future Treasury appointments, our People Committee[3] monitors:
- The balance and composition of the Board and its committees.
- Board members’ skills and experience.
These steps help ensure diverse leadership and informed decision-making at the highest levels.
Our Executive Committee (ExCo)
Achieving meaningful diversity in our Executive Committee (ExCo) is central to our broader goal of improving representation for women and ethnic minorities within the SLT.
As of 31 March 2026, our ExCo diversity figures are as follows:
- 50% of ExCo members are women (5 out of 10).
- 20% are from a minority ethnic background (2 out of 10).
To assess socio-economic background, we ask colleagues about the occupation of their main household earner at age 14, as recommended by the Social Mobility Commission.
- 50% of ExCo members are from a professional or higher socio-economic background (5 out of 10).
- 30% are from a working-class or lower socio-economic background (3 out of 10).
- 20% responded 'other', such as: including retired, prefer not to say, or this question does not apply to me (2 out of 10).
