1489313 - Hogan Lovells FIS Horizons 2021 update - Flipbook - Page 4
Hogan Lovells
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Introduction
Financial Institutions Horizons is a
snapshot of key legal topics and market
trends across the globe, shaping the future
of the financial institutions market.
When we conceived the Horizons series in
2018, the financial institutions industry was
already contending with numerous changes,
among them the shift to digital channels and the
emergence of FinTechs, escalating trade wars,
Brexit, challenging debt financing obligations,
and mounting pressure to embed environmental,
social and governance principles in investment
decisions, corporate strategies and operations.
It comes as no surprise that COVID-19 has
accelerated these changes. And yet the cross-border,
fast-moving nature of the financial institutions
industry has perhaps made it particularly
vulnerable to disruption in a global pandemic.
In the articles that follow, 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 postBrexit 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 institutions
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. If you would like to explore any of the
issues mentioned in the publication further,
please speak to one of the contacts listed, or to any
member of our global industry sector.
Sharon Lewis
Global Head of Financial Institutions
& Insurance, Paris, London
T +33 (1) 5367 4704 (Paris)
+44 20 7296 2474 (London)
sharon.lewis@hoganlovells.com
