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FCA Harps on ESG, Diversity as CISI Marks 30th Anniversary

The Financial Conduct
Authority (FCA), the UK financial industry watchdog, has emphasized the
importance of embedding environmental, social, and governance (ESG) qualities as
well as diversity into financial services organizations.

Nikhil Rathi, the Chief
Executive Officer (CEO) of FCA, stated this during the Chartered Institute for
Securities & Investment’s (CISI) 30th anniversary dinner held recently in
London.

According to a press
statement shared on Monday by the Institute, 330 CISI members and dignitaries
attended the in-person event throughout the UK, the Gulf, Sri Lanka, Africa and
Asia.

Rathi during the
ceremony also explained the FCA’s focus on diversity and inclusion across
financial services.

Rathi explained: “Too
often, financial services organizations and leaders hire in their own image. We
are changing that at the FCA. And we have warned this sector that firms that do
not embrace diversity of thought will struggle to serve the needs of a diverse
customer base and manage conduct risk effectively.”

CISI’ Success Story

Speaking on the factors
behind the CISI’s success, Simon Culhane, the Institute’s CEO, pointed out that
members of the professional body have been instrumental to its success.

Culhane, who will step
down as the CISI’s CEO in September this year after serving for 18 years, also listed some of the professional body’s activities.

He explained, “Our
people have been a major part of our success over the years. We have over 1,000
volunteer practitioners who play a critical role in providing crucial, relevant
and topical knowledge transfer, tested in our exams, and written in our
workbooks.

“Others run regions,
organize talks, and provide the glue of fellowship, whilst others sit on our
committees and forums. All are critical parts of our infrastructure, and all
donate their time voluntarily.

“Our 200 staff, of whom
half work outside the UK, are integral to our success. It is their
professionalism, their energy, their nimbleness and their creativity, which
have enabled the Institute to adapt, respond, grow and flourish. It’s been a
privilege to have worked with both groups for almost two decades.”

CISI was formed in 1992 as the Securities Institute by members of the London Stock Exchange. The Institute then changed its name to the Securities and Investment Institute in November 2004.

It became the Chartered Institute for Securities and Investment after it was granted a Royal Charter in October 2009.

The Financial Conduct
Authority (FCA), the UK financial industry watchdog, has emphasized the
importance of embedding environmental, social, and governance (ESG) qualities as
well as diversity into financial services organizations.

Nikhil Rathi, the Chief
Executive Officer (CEO) of FCA, stated this during the Chartered Institute for
Securities & Investment’s (CISI) 30th anniversary dinner held recently in
London.

According to a press
statement shared on Monday by the Institute, 330 CISI members and dignitaries
attended the in-person event throughout the UK, the Gulf, Sri Lanka, Africa and
Asia.

Rathi during the
ceremony also explained the FCA’s focus on diversity and inclusion across
financial services.

Rathi explained: “Too
often, financial services organizations and leaders hire in their own image. We
are changing that at the FCA. And we have warned this sector that firms that do
not embrace diversity of thought will struggle to serve the needs of a diverse
customer base and manage conduct risk effectively.”

CISI’ Success Story

Speaking on the factors
behind the CISI’s success, Simon Culhane, the Institute’s CEO, pointed out that
members of the professional body have been instrumental to its success.

Culhane, who will step
down as the CISI’s CEO in September this year after serving for 18 years, also listed some of the professional body’s activities.

He explained, “Our
people have been a major part of our success over the years. We have over 1,000
volunteer practitioners who play a critical role in providing crucial, relevant
and topical knowledge transfer, tested in our exams, and written in our
workbooks.

“Others run regions,
organize talks, and provide the glue of fellowship, whilst others sit on our
committees and forums. All are critical parts of our infrastructure, and all
donate their time voluntarily.

“Our 200 staff, of whom
half work outside the UK, are integral to our success. It is their
professionalism, their energy, their nimbleness and their creativity, which
have enabled the Institute to adapt, respond, grow and flourish. It’s been a
privilege to have worked with both groups for almost two decades.”

CISI was formed in 1992 as the Securities Institute by members of the London Stock Exchange. The Institute then changed its name to the Securities and Investment Institute in November 2004.

It became the Chartered Institute for Securities and Investment after it was granted a Royal Charter in October 2009.

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