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SEC Invites Regulated Entities to Submit Self-Assessments of Diversity Practices

The Securities and Exchange Commission’s Office of Minority and Women Inclusion (OMWI) has invited regulated entities to participate in its Diversity Assessment Report for Entities Regulated by the SEC.

The report was created to complement the joint standards issued in June 2015 by the SEC and five other federal financial regulatory agencies. The SEC explains that the report is designed to help regulated entities conduct self-assessments and it provides a template for submitting information about their self-assessments. Use of the joint standards is voluntary, as is conducting self-assessments and providing diversity assessment information to OMWI.

The SEC says it may use the information to identify which policies and practices reflected in the joint standards have been adopted and which ones have been successful.

“This is an important step in our efforts to understand the diversity and inclusion efforts of our regulated entities, as well as promote transparency and awareness in this area,” notes Pamela Gibbs, Director of OMWI.

Entities submitting information considered sensitive and confidential business information may request confidential treatment in accordance with the SEC’s procedures under the Freedom of Information Act.

The SEC noted that regulated entities should receive an email from OMWI inviting them to complete the report online using a secure web portal. In addition, the OMWI has provided a set of FAQs about the report.

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