UK watchdog sets target of 40% women on company boards

Britain's financial watchdog on Wednesday set diversity targets for listed companies, including that 40% of boards should be women, reports The New York Times

The Financial Conduct Authority said companies will have to make annual statements showing how they are complying with the new rules, or explain any divergences.

The FCA proposed last July at least 40% of board members should be women, with one senior position such as company chair, chief executive or chief financial officer held by a woman.