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A series of briefings that take a “bite-size” look at international trends in different jurisdictions, drawing on Baker McKenzie’s expert financial services practitioners.

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

This edition takes a bite-size look at the different rates of progress of environmental, social and governance (ESG) regulation and voluntary standards across the European Union, Hong Kong SAR, Japan, Singapore, the United Kingdom and the United States.

COVID-19 represents one of the greatest ever shocks to our economies and, in consequence, to the business models of financial institutions and the way they do business. While many changes to business processes and operations were already taking place prior to the pandemic, COVID-19 has given many added impetus and urgency. Decision-makers must choose between adapting a wait-and-see approach or implementing more proactive strategies to safeguard and, if possible, grow their businesses.

Welcome to our Virtual Global Trade Conference, a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade. The sessions include trade policy, exports, sanctions, customs, China trade developments and trade developments.

The Financial Action Task Force (FATF) amended FATF Recommendations in October 2018. As a result of the amendments, crypto assets exchangers, custodians of crypto assets, etc. will be required to implement anti-money laundering and countering the financing of terrorism controls. Amendments to the Payment Service Act were made on 1 May 2020, which takes into account such FATF recommendations.

A COVID-19 represents one of the greatest ever shocks to our economies and, in consequence, to the business models of financial institutions and the way they do business. Decision-makers must choose between adapting a wait-and-see approach or implementing more proactive strategies to safeguard and, if possible, grow their businesses.