It’s Culture, Culture, Culture
All the well-meaning policies the industry rolls out to promote women will be ineffective until the cultural perceptions of the industry change….What Stops Women in Finance?
‘We’re really the same, me and you. Same manufacturer even.’
Germany is one of the first choices for gangs worldwide when it comes to washing dirty money, as a Sicilian official recently confirmed. “I’d invest in Germany,” said Robert Scarpinato, Palermo’s public prosecutor…..Money Laundering
Rodrigo Matos
www.w-t-w.org/en/rodrigo-de-matos
www.rodrigocartoon.com
Elizabeth Warren: My office found that Rusal America Corp – a subsidiary of a sanctioned company controlled by a Russian oligarch & Putin ally – got an exemption from @realDonaldTrump’s aluminum tariffs days after he met with Putin in Helsinki. I asked the Trump Admin why.
Hundreds of companies have asked the Trump administration for a special break from its sweeping aluminum tariffs. Few have succeeded. One that managed to get an exemption is a Russian firm currently subject to Treasury Department sanctions.
How Rusal America — a branch of a Russian metals giant controlled by an oligarch with close ties to President Vladimir V. Putin — managed to win an exclusion highlights the chaotic and unwieldy process surrounding President Trump’s tariffs……NYTimes.com
More women candidates than ever will contest US governorships and House seats in November’s mid-term elections.
The pink wave makes herstory: Women candidates in the 2018 midterm elections.…brookings.edu
After Tuesday’s primaries across four states, there are now 11 female nominees for governor and at least 182 for the House of Representatives.
The results were hailed as a continuing success story by activists for women in politics.
There was also a key election for a House seat in Ohio, in which President Donald Trump claimed victory.
But US media said the race was still too close to call, in a safe Republican seat held by them since 1983. The outcome could indicate whether Democrats have a chance to overturn the Republican majority in the House in November.
A breakthrough for women
After polling closed in the four states holding primaries on Tuesday – Kansas, Michigan, Missouri and Washington – it became clear women had broken records for gubernatorial and House nominations.
Victories for Gretchen Whitmer (Michigan) and Laura Kelly (Kansas) in Democratic primaries mean 11 women will contest governorships in November – one more than the previous 1994 record.
At least 182 female major party nominees will run for the House, beating the record of 167 from 2016. Another three women are leading in close primary contests.
And one of the candidates for the House in the state is certain to become the first Muslim woman in Congress. Rashida Tlaib won a Democratic nomination and will not be opposed by the Republicans in November. She will also be the first Palestinian-American congresswoman.
There will be two all-female races in Washington state.
US mid-term elections: Women break records for nominations
The Asia/Pacific Group on Money Laundering is an intergovernmental organisation, consisting of 41 member jurisdictions, focused on ensuring that its members effectively implement the international standards against money laundering, terrorist financing and proliferation financing related to weapons of mass destruction.
In addition to its enormous human cost, human trafficking is estimated to be one of the most profitable proceeds generating crime in the world, with the International Labour Organisation estimating that forced labour generates USD 150.2 billion per year. While in the past, many aspects of the crime went ‘unseen’, there is now an increased understanding of the breadth and gravity of human trafficking, particularly with respect to domestic human trafficking and human trafficking for labour exploitation. Human trafficking is also one of the fastest growing forms of international crime. The increased displacement and vulnerability of people in, and around, conflict zones increases instances of human trafficking, including potential involvement by opportunistic terrorist organisations…. Human-Trafficking-2018
Rodrigo de Matos
www.w-t-w.org/en/rodrigo-de-matos/
Jack Ma’s Giant Financial Startup
is Shaking the Chinese Banking System.
Ant Financial is transforming how Chinese run their daily finances, drawing flak from big banks and warning shots from the government.
Stella Yifan Xie reports: Ant Financial Services Group, founded by Chinese billionaire Jack Ma, has become the world’s biggest financial-technology firm, driving innovations that let people use their phones for buying insurance as easily as groceries, enabling millions to go weeks at a time without using physical cash.
That success is also putting a target on the company’s back. China, even more than the U.S., is now under pressure to reckon with the disruptive power of a financial-technology giant.
It handled more payments last year than Mastercard, controls the world’s largest money-market fund and has made loans to tens of millions of people. Its online payments platform completed more than $8 trillion of transactions last year—the equivalent of more than twice Germany’s gross domestic product…..WSJ
Chinese Tech Billionare Jack Ma’s Ant Financial
Paris, 24 July 2018 – G20 Finance Ministers and Central Bank Governors at their meeting in Buenos Aires on 21-22 July, recognised the real and growing money laundering and terrorist financing risks from crypto-assets and the urgency of action to address these risks; they reiterated their determination to fight money laundering and terrorist financing, and they called on the FATF to take further action to counter proliferation financing.
The FATF President, Marshall Billingslea, briefed Finance Ministers and Central Bank Governors on these risks and the work FATF will be doing under the US Presidency. The G20 asked the FATF to clarify in October 2018 how its standards apply to crypto assets.
The communique highlights G20 countries’ individual and collective commitment to the full and effective implementation of the FATF Standards.
Under the US Presidency of the FATF, the FATF will prioritise work on combating the financing of the proliferation of weapons of mass destruction, further strengthening efforts to combat the financing of terrorism and taking action to promote a more consistent and effective regulation of virtual currencies and other crypto assets.
The FATF recognises the urgent need to clarify how the FATF standards apply to virtual currency providers and related businesses, including for customer due diligence, fund transfers, supervision, and enforcement. The FATF will update the G20 on this in October 2018…FATF-Report-G20-FM-CBG-July-2018
Family photo of the G20 Finance Ministers and Central Bank Governors, 21-22 July, Buenos Aires, Argentina.
The slow path to the top:
The research traces macro-movements in the career trajectories of men and women in finance and accounting. This includes identifying the dimensions of work that either enable or impede the advancement of their respective careers – finding that men and women follow distinct patterns of ascension within the sector.
Overall, women did not reach executive level until seven years after men. The implication of this was the generation of a two-tournament gender system for reaching executive level. Men enter a fast-track route reaching upper middle management well in advance of women and men whose careers had plateaued. Despite this divergence, the careers of women accelerated at a faster rate once they had reached executive level.
When it comes to the experiences of men and women advancing in their careers overtime in the sector, women tended to blame themselves and others for external organisational impediments to their career progression. This raises pertinent questions regarding the individualising thrust of prevalent organisational logics, and the role of equality and corporate social responsibility within this….accaglobal
Slow path to the top/Study
The future of work high on the G20 finance agenda this week in Buenos Aires
Today and tomorrow, officials from member and guest countries are attending the Fourth Meeting of Finance and Central Bank Deputies, laying the groundwork for the finance ministerial meeting this weekend. Future- Work High G20-Finance Buenos Aires
Business Women Leaders Task Force official activities
The economic empowerment of women 
Dieter Huthmacher
www.w-t-w.org/en/dieter-huthmacher
This report Economics of Banking on Women is based on information gathered in the GBA’s Women’s Market Analytics Survey — the only collection of global banking data measuring the performance of financial institutions serving the Women’s Market, with 4 years of performance data and over 400 data points per institution. This second edition of the report bears out several trends that emerged in the previous edition, highlighting the strong business opportunity the Women’s Market represents.
GBA’s Global Women’s Market Survey
This survey includes data that is self-reported by GBA members, and although it has been
reviewed the data has not been fully verified. Data granularity varies from bank to bank and
in some analyses outliers have been excluded. Therefore, some of the results may include
smaller sample sizes and represent still emerging trends that we will continue to analyze
through the annual compilation of this data. All currency referenced is in US dollars.
See also: Investing in gender equality and women’s economic empowerment
Gender equality is one of the founding values of the European Union.
Projects/Initiatives/Gender
