SEC Advances Diversity and Inclusion in 2022 Report

Enhancing Diversity and Inclusion

The U.S. Securities and Exchange Commission (SEC) has demonstrated a strong commitment to diversity, equity, inclusion, and accessibility (DEIA) in its workforce, as detailed in its fiscal year 2022 Annual Report. The SEC has surpassed the Civilian Labor Force in minority employment, achieving a representation of 35.9% compared to the CLF’s 32.5%. This increase marks a progressive trend from previous years.

Representation in Leadership Roles

The SEC has made notable progress in increasing minority representation in leadership positions. The presence of minorities among Supervisors and Managers rose from 26.9% to 29.3%, while Senior Officers saw an increase from 19.4% to 25.5%. Additionally, the agency onboarded 306 new employees, enhancing workplace diversity.

Challenges in Promotion Rates

Despite these advances, promotion rates for minorities and women have declined. The rate for minorities dropped from 39.7% to 19.9%, and for women, from 47.8% to 42.9%. This highlights an area for potential improvement in the SEC's diversity efforts.

Support for Minority and Women-Owned Businesses

The SEC has increased its financial support for minority-owned and women-owned businesses (MWOBs). Contract payments to MWOBs rose to $202.6 million, with contract awards increasing to $233.5 million. This underscores the agency's dedication to fostering inclusivity in its business dealings.

Expanding Opportunities for Interns

The SEC has also expanded its paid internship programs, providing opportunities for students from diverse backgrounds. The agency hosted 59 paid interns in 2022, with plans to further enhance these opportunities.

In summary, the SEC's 2022 report highlights its ongoing efforts to promote diversity and inclusion within its workforce and business partnerships, while also identifying areas for future improvement.