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Our series, Finding Balance, maps the environment financial institutions must navigate to thrive in the post-pandemic global market. Starting in 2020 and finishing this year, we looked across our subsectors — at banking and insurance, financial sponsors, as well as financial infrastructure and payment providers — and re-evaluated the potential impact of the major global drivers of change in financial services such as ESG and digital transformation. The series also considers the risks to and pressures on financial institutions presented by increasing corporate indebtedness, the rise of alternative finance, and increasing regulatory scrutiny originating from the 2008 financial crisis.

As reported earlier, the Ukrainian Parliament is now scrutinzing a draft law, which will replace the current general financial services framework (Draft Law). Back in March 2021, we assessed the key features of the revised regulatory regime. For this article, we will focus on one of the key topics specifically relevant for any financial institution (FI) – whether its activity may be viewed as a provision of services in a foreign jurisdiction (in our case in Ukraine) and thus, subject to local regulatory approval.

In common with other sectors of the economy, there is increasing commercial and competitive pressure from investors and those in positions of stewardship to favor green and sustainable investment. FIs also need to adopt high standards of transparency in the process. Read the key takeaways of the new installment of Finding Balance – Sustainability in Financial Institutions.