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Forty-eight hours after Britain finally devised some sort of framework for its negotiation with the European Union, Brexit secretary David Davies resigned and was replaced by housing minister Dominic Raab, foreign secretary Boris Johnson resigned.

Peter Reeves, Georgina Willcock and Candice Fraser of Gilbert + Tobin assess Australia’s ongoing efforts to regulate the digital currency market

China's central bank governor Yi Gang announced in April that China would implement six steps to open up the financial sector by the end of 2018. Since then, a number of measures have been taken to progress towards this goal including increased caps on the foreign ownership of securities brokerages, investment funds, futures firms and life companies. A move towards the final removal of caps can be expected within three years. Foreign funded banks can also be allowed to underwrite and sell government bonds in China. Other plans include increasing accessibility to China's equity markets such as through the London-Shanghai Stock Connect. Foreign players like Nomura, JP Morgan and UBS have begun to raise their shareholdings in China. JP Morgan has applied to set up a majority ownership securities firm while UBS has raised its shareholding proportion in UBS Securities from 24.99% to 51% and Nomura has announced a plan to set up a holding firm.

Ashurst is set to launch a new office in Luxembourg, in October. Partner Isabelle Lentz, the head of the firm’s Luxembourg desk, founded in 2011, will be managing partner of the office.

The football World Cup is now in full swing. At the time of writing the winning country is still to be determined though every member of the IFLR team has their favourite.

Rusmaini Lenggogeni, Fahrul Yusuf and Harry Kuswara of SSEK look at Indonesia’s clamp down on virtual currencies and the future potential of blockchain

On June 12 2018, the Brazilian federal government enacted long-anticipated changes to the country's mining legislation in an effort to foster investment in the sector.

Under the Basel III regime, in order to counter cyclicality in the financial system, capital should be accumulated when cyclical systemic risk is judged to be increasing, creating a countercyclical capital buffer (CCB) that increases the resilience of the banking sector during periods of stress when losses materialise. This will help maintain the supply of credit and moderate the downswing of the financial cycle. The requirement to add to the CCB also dampens excessive credit growth during the upswing of the financial cycle.

On February 28 2018, the Ministry of Justice released the interim proposal concerning the revision of the Companies Act (in relation to corporate governance, and so on) (Interim Proposal) for public comment. Certain revisions proposed in this Interim Proposal will affect existing practices relating to shareholder meetings.

Challenger banks are shaping the future of the market. The larger lenders are paying attention