CFTC Commissioner Bowen Calls for Greater Diversity

CFTC Commissioner Sharon Y. Bowen described ways to increase diversity in the CFTC and the financial services industry. In a speech before the Lawyers for Empowerment and the Advancement of Diversity, Commissioner Bowen noted that women and minorities are represented in management at the CFTC and in the private financial sector, but that both "still ha[ve] a long way to go." She argued that a lack of diversity on corporate boards is shortsighted from an investment standpoint, since "all else being equal, diverse companies outperform non-diverse companies."

Commissioner Bowen stated that successful diversity programs must (i) clearly articulate the importance of diversity as a mission of an organization, (ii) clearly define goals for what a diversity program should achieve, (iii) obtain "buy-in from all the relevant stakeholders, including those who are not necessarily from the 'diverse' population," and (iv) cultivate "an environment that lends itself to inclusion."