By Charlie Conchie Kemi Badenoch has accused the Financial Conduct Authority (FCA) of regulatory “overreach” after the watchdog outlined plans to boost diversity and inclusion in the City last year. In a letter to the FCA’s chief Nikhil Rathi, seen by City A.M., the business and trade secretary said the FCA’s proposed rules on diversity will be a “distraction” for companies and could hamper efforts to drive growth. “I am concerned about regulatory overreach having read the FCA’s consultation on proposals to introduce a new regulatory framework on diversity and inclusion in the financial sector…