The financial sector is no exception when it comes to gender inequality
Despite the progress made in recent years, the relationship between women and money remains all too often a blind spot in the economic and financial world.
Around the world, more men than women start or acquire a business. In a recent report, the OECD found that between 2019 and 2023, women entrepreneurs were around 5 per cent less likely than men entrepreneurs to seize an economic opportunity.
Women face greater difficulties in securing finance and raising funds. In France, men are 1.6 times more likely than women to secure funding to set up a business.
These disparities do not only affect women entrepreneurs. They are also evident amongst women investors. In 2025 in France, 24 per cent of women reported holding direct investments (compared with 45 per cent of men), according to an AMF report published in December 2025.
The most obvious reason for this is that women are less financially secure. However, there are other factors that need to be taken into account. The differences in behaviour: 51 per cent of women refuse to take any risk, compared with 31 per cent of men.
Fewer women also keep themselves informed about developments in the financial markets: 50 per cent say they do not do so, as opposed to 27 per cent of men. This lower exposure logically translates into less interest and confidence in equity investments: only 25 per cent of women say they are interested in such investments, compared with 45 per cent of men, and 24 per cent have confidence in them, versus 44 per cent of men.
Far more than a question of social justice or ethics
The women’s investment “gap” constitutes a significant obstacle to their ability to secure their financial independence and futures, with their retirement as a prime example. It also represents a major shortfall for the economy, at a time when there is a greater need for long-term investment. Greater participation by women is essential for the competitiveness, innovation and sustainability of our economies.
This is therefore not just a matter of social justice or ethics, but also of economic and financial performance. It is high time that the financial sector began to recognise this problem and tackle it. Our collective responsibility is twofold: to make finance more appealing to women and to ensure that the financial ecosystem pays them greater attention.
What can financial market regulators do?
These gaps are not inevitable. They highlight the need to address women’s representation in finance, trust, and access to information.
Regulatory changes can help increase the representation of women in corporate decision-making bodies, leading to a more conducive investment ecosystem for women.
Financial education is a key driver of economic empowerment. Financial market regulators can start by developing educational content and campaigns focused on finance and investment, in order to combat prejudices and remind people that the world of finance is not exclusively for men.
- First, we can play a key role in identifying and documenting the problem, as well as raising awareness of it. This includes making the most of the data we collect and publishing it.
- Second, we can develop specific programmes to better identify and understand the barriers; drawing on our analytical and research skills.
- Thirdly, we can set up specific financial education programmes.
This is why the AMF recently announced a Financial Education Plan for 2026–2028 aimed at encouraging investment by women. It includes a qualitative study designed to better identify the barriers to and drivers of investment by women. In the short term, the AMF will create a section dedicated to women and investment within the “Retail Investors” section of its website.
Market regulators can also participate in initiatives such as the OECD Forum on Gender Equality to raise awareness within the private sector. They can encourage successful sector-specific initiatives, such as the Charter for Gender Parity by Financi’Elles, a French federation of women’s networks from the banking, finance and insurance sectors.
By signing this charter, companies whose networks are members of Financi’Elles reaffirm their commitment to implementing ambitious human resources policies on gender equality – a driver of financial performance, creativity and innovation. This type of initiative also offers women opportunities for visibility and training.
To learn more about the OECD’s work on related topics, see The OECD Forum on Gender Equality | OECD
Marie-Anne Barbat-Layani is Chair of the Autorité des Marchés Financiers.
Her appointment came after a 30-year career in finance. Inspector General of Finance, she is a graduate of the Paris IEP and the ENA (1993). Between 1993 and 2007, she held various positions at the DGT (French Treasury), the Permanent Representation of France to the EU and the office of the Finance Minister. From 2007 to 2010, she was Deputy CEO of the Fédération Nationale du Crédit Agricole. She was appointed Deputy Director of the Prime Minister's Office from 2010 to 2012. From 2014 to 2019, she headed the French Banking Federation. Between 2019 and 2022, she was Secretary General of the Ministry of the Economy and Finance.