Equality and Human Rights Commission

Notice of an inquiry under Section 16 of the Equality Act 2006

Take notice that the Equality and Human Rights Commission will be conducting an inquiry into sex discrimination in the financial services sector in Great Britain, within the terms of reference stated below.

In accordance with Schedule 2 paragraph 2 of the Equality Act 2006, notice is hereby given that in fulfilment of the Commission's duties under sections 8 and 10 of the Equality Act 2006 and using powers granted to the Commission under section 16 of the said Act, the Commission intends to carry out an Inquiry into sex discrimination in the financial services sector in Great Britain.

Terms of reference

The terms of reference of the Inquiry are:

1. To inquire into the gender pay gap and pay trends across the financial services sector
2. To inquire into the extent and nature of sex discrimination in relation to recruitment, terms and conditions, promotion, career paths, retention and workplace culture across the financial services sector
3. To examine measures used by employers and other organisations to address sex discrimination and inequalities in pay and status, and to assess the effectiveness of such measures
4. To assess and analyse the differential impact of job losses in the sector
5. To consider any other matters as appear to the Commission to be relevant to the above
6. To make such recommendations as are appropriate

Definitions

For the avoidance of doubt we have defined the financial services sector as all activities covered by Standard Industrial Classification 1992 Section J: financial intermediation (65), insurance and pensions (66), auxiliary activities (67).

Any person or organisation wishing to make representations as to the substance of the Inquiry should notify the Commission by email to genderandfinance@equalityhumanrights.com or by telephone to the finance sector inquiry team on 020 3117 0460

This Inquiry is conducted pursuant to the Equality Act Schedule 2, the effect of which is:

• To enable the Commission to serve a notice on any person or organisation requiring the production of information, documents or evidence in their possession (Sched 2 paras 9 and 10);
• To require the Commission to report on the Inquiry’s findings (Sched 2 para 15); and
• To enable the Commission to address recommendations to any party (Sched 2 para 16).

T. Phillips
Chair,
Equality and Human Rights Commission
31 March 2009