City watchdog slams sexism
THE City watchdog has blasted company directors for failing to crack down on sexual harassment because they think it is ‘political correctness gone mad’.
Jonathan Davidson, an executive at the Financial Conduct Authority (FCA), said there were still far too many reports of improper behaviour and warned firms they faced being probed if they did not take the issue seriously.
He also said directors who allowed harassment and discrimination to go unchallenged were not ‘fit and proper’ for their jobs.
His comments follow high-profile harassment scandals at institutions such as insurance market Lloyds of London and Coutts, the private bank used by the Queen.
Speaking at an industry event yesterday, Davidson said: ‘We’re seeing too many situations where staff don’t feel safe, still.
‘Indeed, we’ve seen markets in which female employees report persistent sexual harassment.
‘And non-executive directors feel that our concerns are political correctness gone mad. We are concerned because such a culture is unhealthy and we consider senior managers who commit or countenance such behaviour as not fit and proper.’