FInsight

Jessica Nall and Elizabeth Roper at law firm Baker McKenzie talk about cybersecurity and the challenges faced by the financial sector.

In this episode of FInsight, Baker McKenzie partner, Luka Lightfoot, discusses developments in adaptation finance following COP29 with a special focus on debt for impact swaps, with fellow London based partners Matt Cox and James Tanner.

In this episode, we look at cloud computing in financial institutions. Alessandro Celli (Partner, Zurich), Sue McLean (Partner, London) and Peter George (Partner, Chicago) discuss the global trends we are seeing with reference to Baker McKenzie's multi-jurisdiction Cloud Compliance Center.

The emergence in 2022 of generative AI capable of human-like text, that can analyse vast amounts of data and create new content caught the public's imagination. In fact, it's turbocharged interest in potential AI use cases while heightening concerns over the inherent risks. This FInsight podcast considers whether this all remains just hype and what's actually happening in the financial sector. In this episode about the impact of artificial intelligence on financial institutions, Bradford Newman, a partner in Baker McKenzie's Palo Alto Office and one of the leaders of the firm's North America AI practice talks to Richard Powell, global knowledge lead for financial institutions at Baker McKenzie.

Episode 31: Inclusion, Diversity and Equity in Financial Services Diversity makes business sense from both a financial and consumer perspective, with research in financial services demonstrating a positive link between diversity at senior levels and positive outcomes. Firms are increasingly encouraged by regulators and public, shareholder and employee expectations to introduce new inclusion, diversity and equity (IDE) policies and strategies such as increasing participation by minority groups, collecting data and introducing new policies – but at the same time, financial institutions must not be seen to be going too far and creating unlawful reverse discrimination risks as highlighted by recent court decisions. In this episode, members of Baker McKenzie's Employment and Compensation group, Blair Robinson, a partner in New York, and Lorren Martin, a senior associate in London, discuss the issues around IDE faced by financial institutions on both sides of the Atlantic and globally, with Rachel Farr, senior knowledge lawyer.

Episode 30: EU Whistleblowing Directive: Key Takeaways for Financial Institutions In this episode, Dr. Nicolai Behr (Partner, Munich), Lorren Martin (Senior Associate, London) and Lois Rodriguez Ares (Senior Associate, Madrid) take a closer look at the EU Whistleblowing Directive and the key takeaways for financial institutions. The episode also covers specific developments across different jurisdictions and other challenges that global employers need to consider for their respective organizations.

Quantum computing is still in its infancy, but most experts expect it to reach transformational powers in the next decade, bringing massive technological revolution but also new opportunities for early movers. In this episode, Mark Simpson (Partner, London) is joined by Elena Strbac (Global Head of Data Science Innovation, Corporate, Commercial and Institutional Banking, Standard Chartered) and Peter Chapman (President and CEO, IonQ) to explore how — and why — the finance sector is gearing up for this monumental shift.

In this episode, Jonathan Peddie, global chair of the Financial Institutions group and a partner from our London office and Amy Greer, co-chair of our North America Financial Regulation and Enforcement practice and a partner from our New York office, go through the findings relevant for financial institutions (FIs) from our new report The Year Ahead: Global Disputes Forecast 2023. The episode examines the expected types of disputes and the external risks for disputes throughout the rest of the year.

The growth of the African fintech ecosystem is driven by the creation of value through solving real problems within large user markets, not just the availability of capital. In this episode of FInsight, Ashlin Perumall, a partner from our Corporate and M&A practice in Johannesburg and Sarah Williams, an associate from our financial services practice in London, discuss the fintech landscape in South Africa and other key markets in Sub-Saharan Africa. They take a closer look at investment drivers and opportunities, current and emerging market segments, and key commercial and regulatory developments affecting the fintech ecosystem in the region.

In this episode of FInsight, London partners Sue McLean, Mark Simpson, and David Hart talk about UK Fintech Week 2022. They cover the biggest trends and developments around Fintech in the UK, with special focus on the expected topics throughout the event. The episode takes a closer look at the investment landscape (including the UK's position as a fintech hub, active investors and top sub-sectors) and the current and expected regulatory developments that fintech players need to watch out for.

In this episode, part of the on-going Sovereigns Series: Worlds in Motion, Pete Chapman and Lucy Shawdon from our Compliance and Investigations team in London take a look at compliance in a changing landscape, specifically in the context of sovereign wealth funds (SWFs). The episode goes through current developments, emerging trends, risks, and other important items that sovereign wealth funds need to consider, as we move to the post-pandemic economy. It also covers topics around due diligence and risk management, focusing on geographic, sectoral, litigation, reputational and regulatory risks.

Baker McKenzie's fifth annual report, The Year Ahead: Global Disputes Forecast 2022, addresses key trends in the evolving disputes landscape. The report includes a new survey of 600 senior legal and risk leaders from large companies across the world. Partners Amy Greer (New York), Marc Thorley (London) and Carolina Duque (Bogota) talk about the key findings relevant for financial institutions. The episode examines the factors driving the increase in disputes and emerging concerns related to liabilities. It also covers litigation around digital transformation, tax, 'business-as-usual' conduct, and; new environmental, social, and governance (ESG) standards.

In the latest iteration of our Digital Transformation and Cloud Survey, financial institutions (FIs) identify cost reduction and increased security as top benefits from investment in cloud computing. Conversely, data privacy and cybersecurity issues are identified as top concerns. In this episode, Carolina Duque, a partner from our Bogota office talks to Alessandro Celli, a partner from our Zurich office and global fintech lead and Peter R. George, a partner from our Chicago office who is familiar with the history of the survey and has seen key developments for FIs over the years. They go through the recent findings relevant to FIs and discuss associated risks and vulnerabilities that respondents highlighted. They also cover cyber liability insurance, investment in private cloud offerings, data privacy, cybersecurity, and future challenges that FIs should prepare for.

In the aftermath of COVID-19 and the resulting low-yielding environment, sovereign actors are looking more than ever to real estate, infrastructure, private equity, private debt and other alternative assets for strategic investment opportunities. In this second of two episodes, Baker McKenzie partners Pat McDonald (Chicago), James Burdett (London), Matt Legg (London), Guillaume Le Camus (Paris) and Diogo Duarte de Oliveira (Luxembourg) take a close look at sovereign wealth funds — our current observations of our SWF clients' approach to tax governance and structuring. In this episode, we take a closer look at some of the European tax issues currently affecting SWF's investment activity - particularly the increasing volume of tax transparency requirements.

In this episode of FInsight, Andrew Hedges and Kay She from Baker McKenzie's EMI group in London discuss their experience and observations while on the ground in Glasgow. They cover business imperatives and challenges affecting the global economy and how sovereign wealth funds are well-positioned to influence and make an impact on broader sustainability goals and action plans. As discussions on climate-related issues evolve from commitments to execution in the recent COP26 UN Climate Change Conference, we unpack some of the key takeaways relevant for sovereign wealth funds.

In the aftermath of COVID-19 and the resulting low-yielding environment, sovereign actors are looking more than ever to real estate, infrastructure, private equity, private debt and other alternative assets for strategic investment opportunities. In this first of two episodes, Baker McKenzie partners Pat McDonald (Chicago), James Burdett (London), Matt Legg (London), Guillaume Le Camus (Paris), and Diogo Duarte de Oliveira (Luxembourg) take a close look at sovereign wealth funds - our current observations of our SWF clients' approach to tax governance and structuring. Our team examines the investment activities of sovereign players in the post-GFC and pandemic environment, and their areas of tax focus in M&A scenarios, including investing in the US.

Taking off from the guide Crypto Around the World, the second of two episodes takes a closer look at market abuse, sustainability, decentralized finance, and future developments. Sue McLean, a partner in our London office, talks to the team that started this project: Iris Barsan, counsel from our Paris office; Julian Hui, associate from our London office; and Chris Murrer, a US attorney in our Zurich office. They also cover specific regulatory and policy considerations, as well as the future impact of central bank digital currencies.

Financial institutions (FIs) surveyed by Baker McKenzie spent an average of USD 272 million each on litigation in 2020 - higher than any other industry - but their readiness strategies may not be keeping up with the scale of the challenge they face. In this episode of FInsight, Baker McKenzie partners Daniela Fonseca Puggina from our Miami office and Jennifer Semko from our Washington D.C. office discuss litigation readiness for FIs. The episode also covers potential vulnerabilities and disputes that they need to prepare for, current and emerging trends in litigation (from our Litigation Intelligence Tool and Report), and how they can benefit from litigation preparedness.

Investment treaties expose sovereigns to significant liability if the rights of foreign investors are encroached on. At the same time, these treaties also grant powerful protections and direct claims to sovereign wealth funds (SWFs) - when they act as foreign investors in other states. In this episode, Andy Moody, partner and head of the dispute resolution practice in London and Katia Finkel, senior associate in the same practice in London, cover recent examples of SWFs bringing investment treaty claims and how others can obtain access to these protections. The episode also analyzes why investors should consider investment treaties as part of their decision-making process.

Fraud poses a particular threat to sovereign wealth funds (SWFs) due to the vast sums of money they invest. They also have a higher risk profile when compared to other funds, with high stakes both politically and financially. In this episode, Charles Thomson and Henry Garfield, partners in Baker McKenzie's dispute resolution practice in London, talk to Kate Geale about recent developments, legal issues, practical tips, and strategies around cross-border fraud and asset tracing in SWFs. The episode also tackles emerging trends around the growing emphasis on sustainability and the increasing impact of cryptoassets. SWFs may have go through a long process to recover assets, but it is worth it in the end for recovery, punishment and future deterrents.

In this special edition, Eva-Maria Segur Cabanac, a partner in our Vienna office and global sustainability lead for financial institutions, and Jennifer Klass, a partner in our New York office and co-chair of the financial regulation and enforcement practice in North America, talk with Ying Yi Liew on how the COVID-19 pandemic led to the prioritization of Environmental, Social, and Governance (ESG) considerations among financial institutions (FIs). They also cover progress around the creation of common and consistent international standards over disclosure and classification, and the impact of new technologies on sustainability priorities. This episode is part of the sixth installment of Finding Balance: The Post-COVID Landscape for Financial Institutions.

Taking off from the guide "Crypto around the World," the first of two episodes takes a broader look at general aspects of cryptoassets. Sue McLean, a partner in our London office talks to the team that started this project: Iris Barsan, counsel from our Paris office, Julian Hui, associate from our London office, and Chris Murrer, a US attorney in our Zurich office. They cover high-level regulatory issues - both current and emerging - as well as retail investments in crypto.

Baker McKenzie partnered with Risk.net on their annual ranking of the Top 10 Op Risks for 2021. In this episode, Karen Man and Jennifer Klass, financial regulatory partners, respectively in our Hong Kong and New York offices, talk about this year's list and share perspectives on what clients are experiencing in the market. Our partners provide situational examples in light of the continuing push for digitalization and sustainability, including relevant action items for senior executives. They also take a closer look at how financial institutions can manage current and emerging operational risks.

The Monetary Authority of Singapore (MAS) recently revised its Technology Risk Management Guidelines 2021 after feedback from a 2019 public consultation and engaging with cyber security experts. In this episode, Stephanie Magnus, Ken Chia, and Ying Yi Liew take a closer look at compliance, regulator expectations, cyber threats, and other important considerations - taking into account that financial institutions encompass large multinational banks, insurance companies and small fintech startups.

In this special edition, Sue McLean, partner and global tech lead for fintech and blockchain, talks to David Hart, a partner in our London office and Lawrence C. Lee, a partner in our Palo Alto office, to discuss recent trends and developments around fintech. In this episode, they share their observations on recent innovations and take a closer look at various strategies behind the increase in investment and M&A activity. Fintech players, once seen as market disruptors, are becoming essential and critical in the future of financial institutions.

China's financial institutions are navigating a rapidly evolving market. Recent government actions further strengthened and opened up the industry to more investors - both domestic and foreign. In this episode, Kevin Yuan and Lucca Li from our Shanghai office talk about the economic and regulatory situation, and how COVID-19 has impacted the industry. They also take a closer look at recent innovations and the future landscape for financial institutions in China.

This episode puts the spotlight on Africa, with a focus on South Africa, Kenya, Nigeria, and Ethiopia. Wildu du Plessis, a partner in our Johannesburg office and Head of Africa, talks about the situation in Africa, in the context of the current pandemic and beyond. He shares his observations around regulatory and technological development - focusing on key topics around digitalization, cryptocurrencies, cashless transactions, and sustainability - and how financial institutions can succeed in the post-pandemic continent.

In this special edition, Sue McLean, a partner at our London office, talks with Chris Murrer about the future of the financial infrastructure sector - payment providers, exchanges, card schemes, clearing houses, and depositories - as it transitions into the business renewal phase. Basing on client, industry and legal perspectives, we explore what the post-COVID environment looks like for the sector. This episode is part of the fifth installment of Finding Balance: The Post-COVID Landscape for Financial Institutions.

Taking off from the recent publication "Insurtech - Opportunities and Legal Challenges for the Insurance Industry," Chris Murrer and Iris Barsan walk through observations in the market, as well as key developments that define the current Insurtech landscape. In this second installment, they take a deeper look into regulations and considerations around recent developments in Insurtech. They also touch on important points covering ethical concerns, data privacy, discrimination, and other financial regulations.

Taking off from the recent publication "Insurtech - Opportunities and Legal Challenges for the Insurance Industry," Chris Murrer and Iris Barsan walk through observations in the market, as well as key developments that define the current Insurtech landscape. This first installment focuses on new capabilities across the US and Europe, and how regulations are moving in response to innovations in the market.

In this special edition, Martin C.W. Tam, a partner at our Hong Kong office, talks with Ying Yi Liew about the future of the Insurance sector - as it transitions into the business renewal phase. Basing on client, industry, and legal perspectives, we explore what the post-COVID environment looks like for the sector. This episode is part of the fourth installment of Finding Balance: The Post-COVID Landscape for Financial Institutions.

In this special edition, Michael Fieweger, a partner at our Chicago office, talks with Ying Yi Liew about the future of financial sponsors - private equity / credit funds, asset management, and sovereign wealth funds - as the industry transitions into the business renewal phase. Basing on client, industry, and legal perspectives, we explore what the post-COVID environment looks like for financial sponsors. This episode is part of the third installment of Finding Balance: The Post-COVID Landscape for Financial Institutions.

This episode outlines different steps that financial institutions must consider or take when using virtual communication platforms. Our experts from Singapore – Stephanie Magnus and Ken Chia – examine these steps, which should form part and parcel of financial institutions’ risk and compliance assessments, with a view to mitigating the potential risks of supervisory intervention and litigation.

In this special edition, Jonathan Peddie, Global Chair of Baker McKenzie’s Financial Institutions Industry Group, is interviewed by Ying Yi Liew, a local principal and expert on financial services from our Singapore office. We analyze the future of financial institutions, as the industry transitions into the business renewal phase. Basing on client, industry, and legal perspectives, we explore what the post-COVID environment looks like for four industry segments and five global trends. This episode elaborates on our introductory publication under Finding Balance: The Post-COVID Landscape for Financial Institutions.

This episode outlines different steps that financial institutions must consider or take when using virtual communication platforms. Our experts from the US – A. Valerie Mirko and Harry Valetk – examine these steps, which should form part and parcel of financial institutions’ risk and compliance assessments, with a view to mitigating the potential risks of supervisory intervention and litigation.

What are regulatory sandboxes and how can they be used to launch a FinTech service