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IAA Endorses Adviser Diversity and Inclusion Data Act


IAA Endorses Adviser Diversity and Inclusion Data Act
The full title of House Resolution 2123 is the Diversity and Inclusion Data Accountability and Transparency Act; among other goals, it seeks to require regulated financial firms with more than 100 employees to disclose diversity data.
This spring, U.S. Representatives Joyce Beatty, D-Ohio, and Nikema Williams, D-Georgia, introduced House Resolution 2123, which they titled the “Diversity and Inclusion Data Accountability and Transparency Act.”
Beatty, who is the chairwoman of the House Financial Services Subcommittee on Diversity and Inclusion, said they introduced the bill in order to amend Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to require regulated financial firms with more than 100 employees to disclose diversity data. Williams and Beatty said passage of the “D&I Data Act” would enhance transparency and accountability in the financial services industry, while creating ....

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