On April 14, 2023, the Securities and Exchange Commission (“SEC”) reopened the comment period and provided supplemental information on proposed amendments to Rule 3b-16 under the Securities Exchange Act of 1934 (“Exchange Act”) which defines certain terms used in the definition of “exchange” in Section 3(a)(1) of the Exchange Act.
We spoke with four experts to explore how AI use is likely to evolve in the financial industry in the years to come.
Financial institutions (FIs) continue to expect cybersecurity and data disputes in the coming year, along with ESG disputes. We will see growth in climate-related litigation against financial institutions from NGOs and activist shareholders. Until recently, claims have focused on the disclosure of climate-related information. However, the trend is now moving to scrutiny of what prudent financial management means. For example, what fiduciary duties are owed when acting as a financial advisor in investment planning or M&A transactions?
Our new report – What Does 2023 Hold? Key Upcoming Developments and Enforcement Trends covers nine major areas we expect will shape 2023.
The Baker McKenzie Cloud Compliance Center provides a snapshot of the legal and regulatory position of cloud in key jurisdictions of interest for financial institutions, and provide simple answers to a few important headline questions that all financial institutions will need to consider when taking the leap to cloud.
With financial services regulation developing at pace in areas such as ESG, Fintech and new technologies, our newly launched horizon scanning tool, the Global Financial Services Regulatory (FSR) Momentum Monitor enables financial service providers to plan and prepare for coming regulatory developments across the jurisdictions in which they operate.