A Radical Plan to Recruit More Women to Finance: The Broadsheet

Good morning, Broadsheet readers! There’s a loophole in Google’s ban on misleading crisis pregnancy center ads, U.S. Employers are up against the pay gap clock, and European markets are considering a radical plan to recruit more women to finance. Enjoy your Tuesday!

EVERYONE'S TALKING

- Taking stock. At Coins2Day's Brainstorm Finance Summit in June, Ellevest CEO Sallie Krawcheck urged the finance industry to 'break the wheel' to address its acute underrepresentation of women; to go beyond the standard diversity groups and mentoring programs.

If that approach was "gonna work," she said, "it would’ve worked."

Well, here's an idea that's outside the usual diversity wheelhouse: two trade bodies in Europe—the Association for Financial Markets in Europe that represents the region’s banks and asset management's Investment Association—are weighing a move to reduce stock market trading hours as a means of boosting the number of women in the sector.

The cut that's under consideration is rather dramatic: opening markets an hour later and closing them an hour earlier than the current 8 a.m. To 4:30 p.m. Schedule. With traders often working at least an hour before the opening bell and an hour after the close, workdays are long and not conducive to working parents.

The discussions are in the early stages and any decision on abbreviated trading hours would be up to individual stock exchanges, a matter complicated by the number of operators and the region's different time zones.

Nevertheless, a spokeswoman for the Investment Association said the organization “is taking a strong interest in culture across the investment management industry, from boardrooms to the trading floor, and how this can play a pivotal role in fostering good mental health and creating inclusive workplaces where employees can thrive.”

The world sets its watch to the opening and closing of stock markets. If such bastions of rigidity can consider becoming more flexible, perhaps there's hope for the rest of business. Financial News

Claire Zillman
[email protected]
@clairezillman

ALSO IN THE HEADLINES

- On deadline. At the end of September, U.S. Employers with more than 100 employees will have to report how they pay workers across genders, races, and ethnicities. It will be the most detailed data on those questions ever collected as the Equal Employment Opportunity Commission works to decide which pay inequity complaints to pursue. Wall Street Journal

- Opting out. Planned Parenthood has opted to leave the federal Title X family planning program rather than comply with new Trump administration rules that prohibit grantees from providing abortions or referring patients for the procedure except in cases of rape, incest, or medical emergency. The organization says the change will mean longer wait times and higher costs for reproductive health care. NPR

- A loophole crisis. Google introduced a new policy meant to prevent crisis pregnancy centers—that don't provide abortions—from posting deceptive advertising. But the policy has a loophole. Only users who search "abortion" will see the clarification about whether or not an advertiser is an abortion provider. Searches for "free pregnancy test" or "pregnancy symptoms" still allow the misleading ads. Guardian

- Louisiana legacy. Kathleen Blanco, the first female governor of Louisiana who oversaw the state during Hurricane Katrina, died at 76 on Sunday. Blanco's single term in office was overshadowed by her response to the crisis. An anti-abortion Democrat, she at times clashed with the Bush White House and shouldered blame for the failures of the Katrina disaster response, though in recent years she earned reevaluation from some. "In the end, I think you’ll find that this lady was a leader who was dealt a bad hand, and did the best she could," Republican state senator Daniel R. Martiny said. New York Times

MOVERS AND SHAKERS: JoAnn Murray will leave her role as chief human resources officer at Condé Nast. Lazard's Jean Greene is reportedly joining Bank of America. The agency David promoted Sylvia Panico to global chief operating officer. The Atlantic hired Alisa Leonard as head of global marketing.

IN CASE YOU MISSED IT

- Bad book deal? Mark Halperin, the D.C. Journalist and Game Change author who is alleged to have sexually harassed young women and then threatened their careers when they objected or declined his advances, has a new book coming out. The book relies on interviews with dozens of sources, and criticism is mounting over the deal itself and those sources' decision to speak to Halperin for the project. NBC News

- Sponsors v. Mentors. When it comes to boosters at work, women are "over-mentored and under-sponsored," professor of organizational behavior Herminia Ibarra argues. Sponsors advocate for their candidate when talk of succession for a high-level role comes up, risking their own personal capital and reputation—compared to low-stakes, private mentorship. Harvard Business Review

- Warning: stop with the warnings. Policies that warn pregnant women not to drink or punish them for doing so can backfire. Women who do drink during pregnancy—to any degree—may avoid prenatal care as a result. New York Times

Today's Broadsheet was produced by Emma Hinchliffe. Share it with a friend. Looking for previous Broadsheets? Click here.