Iceland has since January 2018 required external auditors to assess pay inequalities among companies with more than 25 employees.4,5 The Danish Equal Pay Act 2014 requires companies with a minimum of 10 employees to make available gender-disaggregated pay statistics. A number of other EU member states have implemented new reporting standards, including recently in Germany and France. In the US, all employers with more than 100 workers must disclose pay information to the Equal Employment Opportunity Commission. In this paper, we provide a detailed empirical examination of gender and ethnicity pay gaps in the UK using micro-level survey data. As well as describing the evolution of these pay gaps over time, we identify some of the key explanations and drivers of them over time. This decomposition is important when accurately  1  Latest ONS LFS 2019Q1 release. https://www.gov.uk/government/consultations/ethnicity-pay-reporting Business in the Community (2019). 4 Pay in Iceland is assessed using an Equal Pay Standard which highlights four main criteria: expertise, responsibility, effort, and work environment. 5 Wagner, I (2018), ‘Certified Equality: The Icelandic Equal Pay Standard’ https://www.researchgate.net/publication/329371051_Certified_Equality_The_Icelandic_Equal_Pay_Standard 2 3  2  All speeches are available online at www.bankofengland.co.uk/speeches  2  interpreting data on pay gaps and when deciding where action might best be taken – by companies and/or public policymakers – to close these gaps and harvest some of the benefits this would bring. Section 2: Literature Review Gender and ethnicity pay gaps have been studied fairly extensively using US data.

With mobile payments, the cost of travel to a financial service provider is reduced to pressing a button, the risks associated with carrying cash are managed by simply securing a pin number. Since the mobile telephone industry has seen tremendous growth in its coverage, mobile payments seems to be the inevitable retail payment method that reaches out to large segments of the population a way that the conventional ones do not. Chairperson, notwithstanding these advantages, mobile payment platforms are not without challenges. At the centre of these challenges is the need to protect the consumer or user of mobile payment platforms. Undoubtedly, the number of people with access to mobile payment services in Zambia has significantly increased since the early days of Celpay. However, for us at the Bank of Zambia, as regulators we have taken note of how growth has been accompanied by a change in the character of mobile payments. The line between a mobile payment product and a conventional banking product has now become a fine line. For this reason developing appropriate regulations that protect the consumer against fraud and such risks anti-competitive practices, is a critical and necessary response to the innovations brought about by the mobile telephone technology. But it is important to understand that by its nature technological innovation can achieve an overnight quantum leap by the sheer ingenuity of one person. Where this happens, there is a danger that the development of appropriate regulation can lag behind technological advancement.