The financial services industry is undergoing sweeping changes driven by regulatory developments, rapidly advancing technology, ESG concerns and continued consolidation in the sector. The far-reaching impact of financial reforms, intricacies in their implementation, and conflicting regulations in different jurisdictions can expose businesses to increased regulatory risk.
Covering 35 jurisdictions – including both key financial centers and emerging economies – Baker McKenzie’s Financial Service Regulatory (FSR) Guide answers the following questions:
- Who regulates the banking and financial services sectors?
- What are the main sources of laws and regulations?
- What types of activities require a license?
- How do licensing requirements apply to cross-border business into the country?
- What are the requirements to obtain authorization?
- What is the process for becoming authorized?
- What financial services “passporting” arrangements with other jurisdiction are available?
New to this year’s version is coverage of anti-money laundering regulation and the regulatory status of crypto-assets.