In 2018, a committee of the U.K. House of Commons issued a report highlighting the underrepresentation of women in senior positions at financial services firms and significant pay gaps between men and women. In July 2023, the Treasury Committee, a select committee of the House of Commons (Committee), launched a new inquiry, “Sexism in the City,” to assess how much had changed since the 2018 report. “Disappointingly, the answer appears to be ‘not much,’” according to the Committee’s March 2024 report, which is based on written evidence given in response to the Committee’s call for evidence, hearing testimony and a private engagement event with 40 women working in financial services. Despite incremental improvement, women remain underrepresented in the industry, face significant gaps in pay and suffer ongoing sexual harassment. This article discusses the Committee’s key findings and its recommendations to Parliament, the Financial Conduct Authority (FCA) and other relevant bodies, as well as the FCA’s response to the Committee’s recommendations. See “Study Finds Room for Improvement in Hedge Fund DEI Efforts” (Nov. 7, 2024).