On August 12, 2016, the PRA published an open letter to all firms subject to the CRR reminding firms of the requirement in the PRA Rulebook to have in place a policy promoting diversity on the management body. The letter follows a report by the EBA on Benchmarking Diversity Practices published on July 8, 2016. The PRA cited the report which highlighted that, of UK firms surveyed, only 15% had a policy to promote diversity on their management body. The PRA is also interested in how firms have promoted diversity among Senior Managers.

The letter is available at: http://www.bankofengland.co.uk/pra/Documents/about/diversityletter120816.pdf, the General Organizational Requirements are available at: http://www.prarulebook.co.uk/rulebook/Content/Chapter/214142/26-07-2016 and the EBA Report is available at: https://www.eba.europa.eu/documents/10180/1360107/EBA-Op-2016- 10+%28Report+on+the+benchmarking+of+diversity+practices%29.pdf