One step further
While I feel energised and optimistic by this move from the FCA, it does pose an important question about when the FRC will use its influence in the same way. It is crucial these proposals apply to all listed companies.
Our Hidden Truth report revealed 98 companies with one or no women on their boards, among the FTSE All-Share firms below the 350, who were not subject to the government-led reviews of the past decade.
Excluding a large group of companies from these reporting requirements could exaggerate the already significant diversity divide.
It is time to bring transparency on board diversity into the 'business as usual' of reporting requirements; it may well be the tipping point we so desperately need.
Fiona Hathorn is co-founder and chief executive of Women on Boards UK
