Baker McKenzie’s Global Financial Services Regulatory Guide has been fully revised for 2024 and covers 35+ jurisdictions worldwide, making it our most expansive edition to date. The Guide acts as a quick reference tool when distributing financial products and offering services into new markets, providing a comprehensive summary of regulations applicable to banks and other financial services companies around the world. This expanded edition includes the rapidly growing area of cryptoassets, AML and CFT supervisors, and the extension of regulation to critical third-party outsourcers. Given the pace of regulatory change in this domain, staying informed is critical for market participants. Baker McKenzie is exceptionally well-positioned to simplify the complexity and provide expert guidance.

On 28 June 2024, the European Ecodesign Regulation (2024/1781/EU) (“Ecodesign Regulation”) was published in the Official Journal of the European Union and entered into force on 18 July 2024. This Regulation means a radical change in the manufacturing method of a wide variety of products and directly affects the supply chain of all those companies that intend to introduce products into the European Union. Its fundamental aim is to make products more sustainable by introducing a series of requirements and prohibitions that will be adapted to each product group by means of delegated acts of the European Commission.

The Immigration Control and Refugee Recognition Act (ICRR) was amended effective on 31 March 2024 to introduce a new visa category so-called Digital Nomad Visa, the guidelines for which became clearer in recent months. The Digital Nomad Visa essentially allows foreign nationals to stay in Japan up to six months (within a one-year period) and remotely work for foreign companies subject to certain conditions.

On 18 June 2024, Thailand’s Senate passed the act amending the Civil and Commercial Code (“Marriage Equality Law”), taking a historic step towards marriage equality and making Thailand the first country in Southeast Asia to legally recognize same-sex marriage. The new law is currently awaiting royal endorsement and will come into force 120 days after publication in the Royal Gazette. Companies should start reconsidering their HR rules and policies in light of the Marriage Equality Law.