By James Silver A LEADING BANKING executive has warned regulator proposals designed to increase diversity, equality and inclusion in the City could in fact “dumb down” work already being done in financial services. Tracey McDermott, who served for almost a year as the City regulator’s interim CEO and is now Group Head of Conduct, Financial Crime and Compliance at Standard Chartered, told the Following the Rules podcast that the regulator could run into what she called the ‘levelling up problem.’ “One of the challenges when you’re trying to drive industry movement is that you need to make sure …