Treasury financial secretary Mark Hoban will be grilled by MPs about the Government’s work on increasing diversity in financial services.
The all-party Parliamentary group on building societies and financial mutuals will question Hoban on May 11 about what has been done to deliver the commitment to bring forward “detailed proposals” to foster diversity.
Mutual sector thinktank Mutuo, which works alongside the group, says the Government should reveal any policy proposals it is considering.
In January, FSA chief executive Hector Sants told the APPG the FSA does not have a mandate to promote building societies or mutuals and so it does not do so.
A Mutuo spokesman says: “Sants essentially said the FSA thinks diversity is a good thing but it is not the regulator’s job to promote it, so the group is also going to put that to Hoban.”