K&L Gates' 2012 Annual Outlook provides a valuable collection of articles that address important industry and regulatory trends and their correlation with government and political developments. This edition highlights regulatory issues in areas such as: systemic financial risk regulation, anti-corruption and white-collar enforcement initiatives, tax policies, competition and antitrust law matters, intellectual property and international trade developments. Of particular interest in this year's report is the section on financial services. In this chapter, K&L Gates covers, among other things, updates on regulatory efforts and emerging developments that K&L Gates has identified as areas global financial professionals should keep on their radar screens