We address critical questions surrounding these emerging risks and opportunities. For instance, as more customers have embraced digital out of necessity during the pandemic, how can financial institutions keep themselves and their customers safe from fraud and cyber-attacks? Will U.S. trade and economic policies towards Hong Kong and China see significant changes under the Biden administration? And despite many courts scaling back their work to only critical cases, how has the litigation landscape changed?
We also address key themes and trends that could lead to opportunities and risks for our clients in the financial institutions sector, including the implication of UK sanctions legislation in a post- Brexit environment; the avalanche of sustainable finance legislation from governments and the shift from voluntary guidance to mandatory measures reflecting the urgency of global climate concerns and the remaining steps that financial institution should be taking to ensure an orderly LIBOR transition by the end of 2021.
No one can predict how COVID-19 will ultimately reshape our world. We hope, however, that this collection of insights will offer a touch of clarity as industry leaders seek progress in 2021 and beyond:
Chapter 1: Accelerated Change in the Financial Institutions Sector
- The acceleration of digital channels: managing the fraud and cybersecurity risks
- Biden's China policy: No details, but several clues on approach
- UK sanctions legislation post-Brexit: analysis of New Statutory Instruments
- COVID-19 relief efforts spark litigation and investigations in the U.S.
Chapter 2: Focus
- Compromising debts in the COVID-19 era
- Sustainable finance disclosures
- Remaining steps along the road to LIBOR transition
If you would like to explore any of the issues mentioned in the publication, please speak to one of the contacts listed, or to any member of our global industry sector.
Authored by Penny Angell, Jonathan Chertkow, Aline Doussin, James Doyle, Marc Gottridge, Scott Harris, Christian Herweg, Wouter Jongen, Ben Kostrzewa, Louise Lamb, Sharon Lewis, James Maltby, Peter Marta, Andrew McGinty, Jamie Rogers, John Salmon, Andrew Carey, Sukhvir Basran, Rachel Dabydoyal, Dylan Goedegebuure, James Hewer, Susan Whitehead, Dominic Hill, Matthew Porter, Margaret Kemp, Yvonne Clapham, Charlotte Bonsch, Hali Katz, Michelle Rich, Rebecca H. Umhofer, Isobel Wright, Allison Funk, Rita Hunter, Paida Manhambara, Sarah McQuillan and Ellie Rees.