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The Financial Services Regulatory (FSR) Momentum Monitor is a horizon-scanning tool enabling financial service providers to plan and prepare for coming developments across the jurisdictions in which they operate.

Grouping upcoming changes into key business-relevant themes, the FSR Momentum Monitor highlights the extent and expected impact of upcoming regulatory intervention in multiple jurisdictions across the globe.

Analysis by our experts is accessible via a heat map, and organized into the following themes:

  • Environmental, Social and Governance (ESG)
  • Governance and culture
  • Operational risk and resilience
  • Fintech, AI and data
  • Financial crime

Cross-border momentum toward increased regulation, or a common approach adopted by regulators, is examined in our accompanying global commentary, available below.

The FSR Momentum Monitor is designed to complement the award-winning Global FSR Regulatory Guide on authorization and licensing requirements.

Momentum Heat Map


Momentum analysis

A year on from our first snapshot (read 2022 commentary), what changes are we seeing in the FSR Momentum Monitor? Broadly, the momentum we saw last year has been maintained. Of our themes, fintech, AI and data remains out in front with two-thirds of jurisdictions being red, requiring investment from the financial sector in regulatory change. Again, environmental, social and governance (ESG) issues mostly remain either red or amber, reflecting the increasing momentum toward meeting carbon net-zero targets. Similarly, operational risk and resilience continues to see significant impacts. In comparison, regulatory developments in governance and culture together with financial crime show not only greater variance across jurisdictions, but higher proportions of green.



Karen Man is a partner in Baker McKenzie’s Financial Services group, leading the non-contentious Financial Services Regulatory practice. Her clients include global, Chinese and local banks, fund managers, brokers/dealers, money service operators and fintech firms. Karen is admitted to practice in Hong Kong, the UK, and Australia.

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