With a growing number of sex discrimination cases in the City, the Treasury Select Committee is launching an investigation into gender inequality in the financial services sector.
According to the Telegraph, John McFall, chairman of the committee, said: “At a time when pay and corporate governance are key issues in terms of redrawing financial regulation, the committee feels it is important to highlight the issue of gender equality in the financial services industry. We hope our inquiry will provoke an important debate about the representation and treatment of women in the City.”
Banks and financial institutions are being asked for information and evidence on three areas: pay inequalities, flexible working practices and sexism. Banking is a sector that, like technology, is very male dominated, and many commentators have questioned whether the credit crunch would have happened if there had been more influential women in the institutions. It is very encouraging to see that this action is being taken and hopefully the findings will lead to some positive developments being made.