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CBI urges FRC to act fast on women in the boardroom.

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UK business group the CBI has urged the Financial Reporting Council (FRC) to get on with making changes to the UK's Corporate Governance Code in a bid to boost the number of women on boards.

Responding to the FRC's consultation document "Gender Diversity on Boards", the UK's CBI reiterated its call for the Code to be revised to require listed companies to report on diversity on a "comply or explain" basis.

The CBI believes this approach would allow firms to set their own targets for increasing diversity that reflect the nature of their business and circumstances--and explain why if they fail to deliver.

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In practice, that would mean a company employing a large number of female staff may choose to set a higher target, but the same target may not be realistic for a firm with fewer women employees.

Katja Hall, CBI chief policy director, said in response to the Code: "The best way to get more women on boards is by giving companies the flexibility to set targets that reflect the realities of their businesses.

"The...

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