2025：金融机构的雷达上有什么？

Introduction The financial sector's challenge isn't simplyto keep pace with rapid change but tostay ahead. Emmanuel HadjidakisChair–Global Financial Institutions In alternative finance, after a slow 2024, pressure isbuilding for divestitures, while sponsors seek newfundraising. Private debt investors are focusing onresilient industries with good creditworthiness. In 2025, geopolitical events, technological advances,and regulatory developments will drivecontinuous transformation. Governments are increasingly using financialsanctions to achieve foreign policy goals, rampingup enforcement. Tax remains an area to watch as governments targetlarge businesses, private equity, and high-net-worthindividuals to close revenue gaps, with increasing taxtransparency measures and new OECD rules. Emerging technologies are introducing innovativefinancial products, promising productivity gains whilecreating new vulnerabilities. Financial institutions must not only manage theserisks but also seize the opportunities. Join our expertsas they explore what 2025 holds for thefinancial sector. New regulations aim to govern these technologiesand, for example, control third-country access tofinancial markets, and strengthen prudential rules.Sustainability regulation continues to develop albeitsubject to regional divergence. Helping you to get the best results Baker McKenzie's global reach, strong connections with regulatory authorities, and experience make us the idealadviser to guide financial institutions through the panoply of issues in a rapidly changing environment. Contact ustoday to discuss your concerns: Emmanuel HadjidakisChair–Global Financial Institutionsemmanuel.hadjidakis@bakermckenzie.com+65 6434 2781 Key Takeaways Until recently, the incoming tide ofsustainability policies has seemed inexorable.Now, higher interest rates and prices,generally tougher economic conditions andchanging political sentiment appear likelyto slow or reverse current policies. 2025 will see sustainability-related litigation andenforcement emerge as one of the predominantdisputes concerns for financial institutions. Page 4 Page 4 The importance of transition plans will continue togrow as sustainability due diligence and disclosurerequirements increase in many jurisdictions.Page 5 The financial sector is nowhere close to realizingthe benefits artificial intelligence can bring tobusinesses and to customers. Nonetheless, mostgenerative AI use cases identified to date remainunder testing or in beta environments. We will see increasing interest from financialinstitutions in tokenization use cases.However, there are legal implications andother obstacles to be mindful of, such asscalability and interoperability. Page 7 2025 could be the year that crypto assets achieverespectability as regulators are forced to accept(albeit reluctantly), this new asset class into theregulatory fold. Page 8 The quickly changing sanctions landscape,especially in the wake of geopolitical events,such as the war in Ukraine, means that banksand financial sponsors alike need to be vigilant. Page 8 The complexity and scale of cyber threats continueto grow, posing risks to operations, reputation andcustomer trust. The growing power of AI and therisks posed by a future technology, namely quantumcomputing, threaten to further augment the risk ofcyberattacks. Page 10 The repercussions of the #MeToo movementacross society are leading to an increase inallegations of nonfinancial misconduct in thefinancial sector.Page 11 Page 11 As governments continue to look to largebusinesses to close revenue gaps, we anticipatea continued increase in proactive tax authoritychallenge across the globe and across all areasof corporate income taxes, transfer pricing andindirect taxes. In private equity there will be an increasedfocus in 2025 to perform quick and reliablerestructurings to achieve exit readiness.Meanwhile, private debt investors will continueto focus on investments in resilient industrieswhich provide good credit worthiness.Page 14 Page 13 In funds finance, large global banks havedominated the market for subscription creditfacilities and have also led the way in providing netasset value (NAV), hybrid and other fund financingfacilities, such as general partner (GP) facilitiesand management facilities. However, institutionalinvestors are becoming increasingly active in themarket, and this has led to more competition. Life for local branches of non-EU banks inthe EU is about to get harder under CRD6.One obvious winner, already lightly regulatedcompared to banks, is private credit that fallsoutside CRD6 and remains subject to national rules.Page 16 Page 15 There are barriers to increasing private fundingfor adaptation finance, but if overcome, there istremendous potential with the right tools andfinancial products. The disappearance of Credit Suisse poses newchallenges for the banking industry worldwide.The main question is what instruments shoulda regula