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France's new anti-corruption law has been heralded as a small revolution in the battle against white collar crime. It also indicates a growth in French extraterritoriality to rival the US and UK's treatment of corrupt practices.

China has not yet issued formal guidance on foreign issuances on its onshore market

New York state's proposed cyber security regulation for financial services companies is by far the most comprehensive set of digital security rules in the US. It has been met with scepticism by some though.

The Indian government wants its population to be less reliant on cash

And so 2016 draws to a close. The financial world is not a significantly different place to what it was a year ago but there is a sense that changes are imminent. While there has been much debate, speculation and even fear surrounding the UK's exit from the EU and the election of a businessman to govern the US, the moment when concrete plans are to be set in motion has not yet even happened. Brexit and Trump – two of the most significant words of 2016 – are set to make their mark even more profoundly next year. The first one by posing legal and regulatory questions that the EU has so far never in its history had to answer, the second by promising to 'make America great again'.

Mozambique's government is struggling to reach consensus with a group of bondholders over a commercial debt restructuring plan. It might be the first case in a new wave of emerging markets gone wrong.

When the UK's Tesco Bank was hacked in November, and the criminals made away with £2.5 million ($3.1 million) from 9,000 customer accounts, it was called the worst cyber-attack in British banking history. The firm's response involved a call to other banks to work together as an industry, to protect consumers and the financial system as a whole.

Ahmed Shibeer In the Balkans, a number of firms announced alliances or firm acquisitions. In Serbia GECIĆ LAW acquired Colic Law Office, an M&A and litigation boutique with Ognjen Colic taking up the role of head of corporate. In Bosnia and Herzegovina, KARANOVIĆ & NIKOLIĆ announced its expansion into the Republic of Srpska through a cooperation with Banja Luka based Goran Babic, a finance partner and former lawyer at Hypo Alpe Adria. Finally DIMITRIJEVIĆ & PARTNERS (Bosnia and Herzegovina), ŽURIĆ & PARTNERS (Croatia) and BOJOVIĆ & PARTNERS (Serbia) formed a new alliance – SOUTH EAST LEGAL ALLIANCE (SELA) – in the Balkans.

Jeremy Cunningham Andrew Yang Dannelle Howley There have been some interesting recent developments in the legal markets in Asia-Pacific, with firms making moves that reveal their local and international strategies. In Hong Kong, CLIFFORD CHANCE hired corporate partner Frank Yuen from independent firm Woo Kwan Lee & Lo to enhance its offering to local clients. Yuen is focused on Hong Kong listings and related public mergers and acquisitions. Last year he acted for billionaire Li Ka-shing on a major reorganisation of his $97 billion business empire.

The European Commission's proposals for the Capital Requirements Directive (CRD V) have been deemed by some as a retaliatory response to US regulatory standards. But Clifford Chance's Simon Gleeson believes the proposals will not substantially damage US banks with operations in the EU.