UK Regulatory Bodies Halt Diversity Initiatives Amid Banking Sector Backlash

In a surprising turn of events, several UK regulatory bodies have decided to halt their ongoing diversity and inclusion initiatives following significant pushback from prominent figures within the banking sector. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), organizations tasked with overseeing the UK banking system, are scrapping efforts aimed at enhancing workplace diversity after facing criticisms from bankers who deemed these efforts as overstepping their mandates.

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