FCA

Follows HM Treasury-led report

ESMA to publish new guidance by June

Regulator fears ‘re-emergence of cosy boys’ clubs and men-only networks’

Amid regulatory pressure

Discussion paper also launched

Lack of knowledge and understanding at board level

New regime begins in December 2019

No exposure

Mark Starling defrauded investors of £3m

Could be forced to accept "more than 30" new rules