As previously mentioned the Legal Feminist Response to FCA Consultations is very clear; the proposals, if adopted by the FCA would leave it vulnerable to an accusation that it had breached its Public Sector Equality Duty set out in the Equality Act 2010. In addition the proposals appear to have forgotten about the existing mandatory disclosure regime in the Companies Act 2006, particularly section 414C(8).
The Legal Feminist 'collective' is of the opinion that we have formed the view that the proposals outlined in the CP are flawed, perhaps fatally, in view of the difficulty of reconciling them with other laws and regulations in these specialist areas.
Which is a polite way of saying however drafted these proposals was, well, a bit amateurish and didn't properly research the subject (perhaps driven by the ideology rather than respect for the law and regulation).
The consequence is that the FCA's proposals are likely unlawful and would place Companies in the awkward position of being in likely breach of the law if they adopted the FCA's requirements. So in effect the FCA could easily render itself an organisation promoting unlawful activity. I suspect that The Treasury (which the FCA is responsible-to) would step in to dissolve it rapidly and start-up a new organisation untarnished by any staff from the former FCA, through the Financial Services and Markets Act 2000 (FSMA). I think the FCA works to a 'Charter' and if it could be shown to be in breach of its own mission, the current organisation could be wound-up and immediately replaced by another.