SEC Readies Diversity Guidance for Asset Managers, Gensler Says

The Securities and Exchange Commission will soon release guidance to promote diversity among asset managers, the agency’s chairman Gary Gensler told lawmakers Thursday.

“I feel that the staff will probably shortly be putting out that guidance” on diversity, Gensler said before the Senate Banking Committee. He said the agency has made “some good progress” but declined to provide further details.

Gensler was responding to questions from Senator Bob Menendez, a Democrat from New Jersey. Menendez has pressed the SEC to require disclosures on gender and racial diversity in the asset management industry, in line with recommendations from an agency ...