Sexism, sexual assault, and bullying are rife at financial services organizations, according to a recent report by the U.K. Treasury Committee.

The report, published this month, identified serious crimes being hushed up and poor complaints procedures, as well as “tick box” diversity initiatives and little change in gender diversity and pay gaps at firms.

Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...