U.S. Securities and Exchange Commission Chair Gary Gensler said the agency is examining whether to require asset managers to bolster disclosure of workforce and management diversity.
“I have asked SEC staff to consider ways that we can enhance such transparency,” Gensler said Wednesday at an SEC event. That could include requiring disclosure of “aggregated demographic information about an adviser’s employees and owners,” he said.
Gensler said it may also include having fund managers disclose their diversity and inclusion practices when selecting other advisers.
Banks and fund managers have been under pressure for years from investors and lawmakers to diversity their staff and leadership.