The introduction of compulsory flexible working hours would open the floodgates to more women working in the UK financial services industry, according to Sturgeon Ventures, a regulatory incubator.

Sturgeon, one of the 72 companies that signed HM Treasury’s Women in Finance Charter in July, is advocating flexible working as to combat the barriers family care, which it believes is a major issue in preventing women from re-entering the financial services industry.

The Charter requires signatory firms to formulate a strategy for achieving greater diversity within their organisations, particularly at the senior and executive levels, set internal and externally reportable targets to improve diversity in the workforce and publicly report on these goals. Companies signed include BlackRock, BNY Mellon, Lloyd's of London and Virgin Money.

More controversially Sturgeon is also launching a campaign for the government to initiate tax breaks for those start-up companies in which women account for at least half of senior management.

"Regulatory incubators", also known as FCA Umbrella or Regulatory Hosting, provide third-party investment management, investment advice and compliance and eventually direct authorisation support to start-up financial services businesses until they can be directly regulated in their own right. The service has been particularly in demand since the global financial crisis, with many individuals leaving large institutions to set up their own operations.

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