April 5, 2023

SEC Reports on DEIA Initiatives and Progress

Yesterday, the SEC’s Office of Minority and Women Inclusion (OMWI) released its fiscal year 2022 Annual Report to Congress. This Annual Report summarizes “the SEC’s actions and achievements towards promoting diversity, equity, inclusion, and accessibility in the SEC’s workforce, increasing opportunities for minority-owned and women-owned businesses, and leveraging DEIA for mission effectiveness.”

The press release announcing Annual Report notes the following highlights:

– The representation of minorities among Senior Officers (Senior Officers are equivalent to Senior Executive Service at other federal agencies) increased from FY 2021 to FY 2022;

– 37.6 percent of the SEC contract payments made in FY 2022 were to minority- and women-owned businesses;

– The SEC increased the number of paid internship programs from FY 2021 to FY 2022; and

– 35.9 percent of the workforce identify as minorities.

The report notes how OMWI’s DEIA initiatives extend outside of the SEC. OMWI maintains a network of Diversity Partners, including minority- and women-focused professional associations and educational organizations, to further the SEC’s DEIA objectives. In fiscal year 2022, OMWI hosted its Biannual OMWI Partners Meeting to enhance these personal connections and further shared goals of promoting diversity in the financial services industry.

– Dave Lynn