In this episode, host Will Chalk is joined by Ashurst colleagues Crowley Woodford and Ruth Buchanan to unpack what the Employment Rights Act means in practice.

Crowley certainly doesn’t sugarcoat the scale of the impact: “It's no exaggeration that the Employment Rights Act is probably the most fundamental change in employment rights since the Thatcher era”. With that in mind, this episode covers a lot of ground in a short space of time.

Crowley pinpoints the changes to unfair dismissal as hugely significant, and outlines two changes of particular note for boards. In particular, he says that boards should consider preparing themselves for greater litigation risks when terminating highly paid employees. And he suggests some steps to mitigate these risks.

The Act also presents new corporate obligations in relation to sexual harassment. Ruth highlights governance issues for boards, as the compliance bar rises for organisations: “Employers are going to have to take the steps that are going to be specified in the regulations, but also take all other preventative steps that are reasonable in the circumstances.” Ruth suggests steps such as conducting risk assessments, publishing relevant policies and plans, establishing reporting mechanisms, and ensuring robust, proper complaints-handling procedures, etc.

And the big changes don’t stop there!

In short: this episode is an absolute must-listen for directors of organisations with UK employees. It will be 20 minutes very well spent.

To listen to this and subscribe to future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

To receive updates and alerts on the issues raised in this podcast mini-series, subscribe to Ashurst’s regular Governance and Compliance Updates.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions. Please note that this episode was recorded before the King's Speech was delivered on 13 May 2026 which, contrary to all predictions, did not contain legislation to take forward disability end ethnicity pay gap reporting legislation.

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Watch all of our episodes in the Ahead of the Deal series here. For more information about our global corporate practice, visit our Corporate and M&A page.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode, host Will Chalk is joined by Ashurst colleague and climate transition expert Becky Clissmann, as well as special guest Jo Richardson from Anthropocene Fixed Income Institute, who helps investors to align their portfolios with climate and sustainability goals.

Drawing on a new report published by Ashurst with communications consultancy Radley Yeldar, the discussion highlights the disconnect between what some companies disclose in their transition plans – and what investors actually need.

Will, Becky and Jo highlight some of the stand-out attributes of a credible climate transition plan. They explain the importance of costing the decarbonisation roadmap and explain why fixed income investors are uniquely positioned to influence corporate behaviour. And they discuss why investors can spot greenwashing a mile away.

Will hits the nail on the head when he says, “transition plans have really moved beyond corporate virtue signalling and are increasingly important for companies seeking corporate finance.”

To listen to this and subscribe to future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

To receive updates and alerts on the issues raised in this podcast mini-series, subscribe to Ashurst’s regular Governance and Compliance Updates.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

The current geopolitical instability is creating a multitude of legal and compliance risks for businesses globally, most notably for those operating in – or financing – the construction, energy and infrastructure sectors. For this episode, we’ve assembled an expert team to highlight the key litigation and compliance risks arising from the conflict in the Middle East, and to share practical considerations and actions for in-house legal teams navigating these challenges.

It’s a timely discussion, given the confluence of force majeure notices, supply chain disruptions, tightening insurance and extreme weather in the Middle East region. We tackle the rise of opportunistic claims from contractors and subcontractors seeking to excuse pre-existing delays and performance failures to current events. We walk through the contractual and regulatory ramifications and the proactive steps companies can take now. 

Conduct and decisions made during high-pressure environments can incur serious liability years later. So, we also consider the chief risks of financial crime that often spike during periods of military conflict and supply chain instability. And we address implications for M&A due diligence as well as the heightened scrutiny from banks over cross-border transactions.

To peel back the complexity and get to the heart of these issues, Ashurst’s Ruby Hamid is joined by colleagues Cameron Cuffe, Philip Chong and Neil Donovan.

Listen to this episode by searching “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. Find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Host Will Chalk is joined by Ashurst colleagues Nisha Sanghani, former FTSE 350 board member and Head of Ashurst Risk Advisory Middle East, and Neil Donovan, a partner in Ashurst’s dispute resolution practice in London.

In this timely episode, we look at how the geopolitical shocks are driving a fundamental rethink of how organisations map, monitor and manage their supply chains. In doing so, we help boards answer a kicker of a question: If the world changes tomorrow, how exposed is our organisation and how quickly can we respond?

Nisha explains why the most effective boards aren’t satisfied with assurance, they really challenge and interrogate supply chain resilience, asking: ‘How do we know it would hold up under stress?’

Neil navigates a wave of related legislation, from the UK Modern Slavery Act to the EU Corporate Sustainability Due Diligence Directive, noting that supply chain risks are not limited to modern slavery violations, and that companies in some jurisdictions can be pursued for failing to prevent bribery and corruption by third party agents, distributors and others within their supply chains. Enforcement may still be in its infancy, but Neil warns of reputational damage too. The court of public opinion moves faster than any regulator.

To listen to this and subscribe to future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

To receive updates and alerts on the issues raised in this podcast mini-series, subscribe to Ashurst’s regular Governance and Compliance Updates.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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As well as sharing an overview of the regulatory environments in their respective jurisdictions, our expert panel explain the mechanics of scoping an investigation including governance, process, and substance considerations. There’s also discussion about the nuances and potential consequences of suspending those who are subject to investigations (different rules apply in different jurisdictions).

The second half of the podcast focuses on whistleblower confidentiality and how each jurisdiction approaches this. The panel discusses when anonymous testimony can be used in disciplinary proceedings, the conflicts of interest that arise when a senior executive controls the very whistleblowing process under which concerns are raised about them, and the phenomenon when an executive deploys whistleblower disclosures as a defensive tactic.

This episode is not for the faint of heart – but it’s compulsive and essential listening for board members.

To listen to this search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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JO'S shares his insights on takeover approaches: how to navigate those critical first steps and the importance of good preparation.

He also reflects on the influence of institutional shareholders, offers some do's and don'ts for potential bidders, and, as an unabashed fan, provides his thoughts on the role of the Takeovers Panel.

Watch all of our episodes in the Ahead of the Deal series here. For more information about our global corporate practice, visit our Corporate and M&A page.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

The episode is intended to sit alongside, and complement, our quarterly publication which is available on our website. The publication looks at key highlights and market developments in the first quarter of 2026, as well as relevant legal and regulatory developments. The publication also includes tables summarising the key features of firm offer announcements made during the quarter.

To listen to this and to subscribe to future episodes in our Takeover Talks miniseries search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Watch all of our episodes in the Ahead of the Deal series here. For more information about our global corporate practice, visit our Corporate and M&A page.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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What's been catching people out, how is the ACCC managing the volume of applications, and what changes might we expect to see in the future?

Watch all of our episodes in the Ahead of the Deal series here. For more information about our global corporate practice, visit our Corporate and M&A page.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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In this episode, finance partner Ruth Harris tackles data centres’ water usage with real estate partners Alex Peace (in Australia) and Charlie Reid (in the UK). Together, the Ashurst colleagues reflect on current and forecast demands for water – and the responses from government, communities, investors, water companies and the industry itself.

In this revealing discussion, Charlie outlines the planning framework in the UK, where data centres have been designated critical national infrastructure which – on the surface – appears to create tension between the nation’s economic and environmental ambitions. He explains how environmental impact assessments are increasingly at the frontier of data centre development and notes a recent legal challenge centred on an inadequate water and energy consumption assessment.

However, the trio also discuss how modern facilities using circular water systems can consume dramatically less water than older data centres. They consider the need for standardised metrics to measure and report on facilities’ water usage effectiveness. And they consider how water companies could be part of the solution.

To listen to this and subscribe to future episodes about data centres, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To listen to a recent episode dedicated to water usage in Australian data centres visit this web page. To read Ashurst’s regular article series on data centres, visit this web page. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Back leverage in European real estate finance has grown rapidly. It attracts serious capital – but remains notoriously difficult to define. It goes by pseudonyms such as debt-to-debt or loan-on-loan but nothing quite captures what this market has become.

In this episode, Ashurst partner Ruth Harris is joined by special guest AJ Storton, a partner at Art Capital, to get into the nitty gritty and the bigger picture. They explain exactly what back leverage is and explain why “structured leverage” might be a more useful term.

They also discuss the motivations on each side of the trade (users and providers) and the documentation questions that determine how a transaction is actually structured. There’s also a handy summary of securitisation compliance obligations, and  crucially – the “top 10” structural features that any party to these transactions needs to nail.

To listen to this search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Vanja and Colin walk through the implications for investors disposing of infrastructure and mining interests, explaining why leases, transmission assets, plant and equipment, and mining tenements must all be analysed through a property-law lens rather than a physical-asset one. They also outline the Courts’ guidance on valuing synergistic asset bundles and allocating value between TARP and non-TARP assets.

The decisions highlight the need for meticulous evidence gathering, careful classification of rights, and interdisciplinary support from property, planning and infrastructure specialists. For investors, the message is clear: understanding the legal character of land-related rights is now essential to navigating Australian CGT rules.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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In the first episode of our new series, Tony Damian and Amelia Morgan unpack the key findings from Ashurst's recently released M&A Deal Report 2026.

Tony and Amelia take a close look at deal flows, shifting deal structures and the role of private capital. 

Watch all of our episodes in the Ahead of the Deal series here. For more information about our global corporate practice, visit our Corporate and M&A page.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode of our UK Governance & Compliance mini-series, host Will Chalk is joined by two experts on AI governance, Ashurst’s Fiona Ghosh and Matt Worsfold. Drawing on Ashurst’s recent Board Priorities 2026, they peel back the layers of AI hype and market complexity to get to the heart of the matter: what do directors need to know and – most importantly – what do they need to do?

In less than 25 minutes, the trio explain the story so far (AI governance in the past three years) and confront today’s great challenge: ensuring frameworks are genuinely embedded and operationalised. They also discuss contrasting regulatory approaches (including mixed fortunes for the EU’s ambitious AI Act and the UK’s more light-touch approach) and the common thread across jurisdictions: uncertainty.

Our panel also gets practical – strongly recommending hands-on AI literacy for directors. As Fiona points out, "Until you are actually grappling with the topic yourself, you can't possibly understand some of the issues and some of the risks that are presented.”

The discussion also explores the changing remit of non-executive directors and the widening breadth of skills they now require to be effective in their roles. And our experts highlight relevant guidance available for directors who want to get on the front foot.

To listen to this and subscribe to future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

To receive updates and alerts on the issues raised in this podcast mini-series, subscribe to Ashurst’s regular Governance and Compliance Updates.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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In this episode of our UK Governance & Compliance, Board Priorities mini-series, we get a view of shareholder activism from two hemispheres. Host Will Chalk is joined by Ashurst colleagues Miriam Kleiner from Sydney and Harry Thimont from London.

Together they look beyond the attention-grabbing headlines and consider the underlying trends from Australia and the UK, including the hot button issues likely to raise the ire of activists and the common tactics they employ.

The episode includes pertinent issues that boards should have on their radar, including any perceived weakness an activist shareholder may seek to exploit (e.g. capital allocation, operational inefficiencies, governance weaknesses).

Throughout the episode, Harry emphasises board readiness including, “understanding which institutional investors may support management and which may be on the side of an activist is critical intelligence.”

Will cautions against the assumption that activism is always a case of “us against them” and Harry concurs, “Engaging in constructive discussions can result in an outcome which not only avoids a potentially prolonged and draining campaign, but also has genuine upsides for the company and its shareholders.”

While every campaign is different, having the right response infrastructure in place is always a good idea, as Miriam explains. “Establish the tone and approach to any conversations you're going to have. And really, if it's all managed properly, there should never be a surprise for the board because you're managing your register, you're constantly on top of it, you're constantly talking to shareholders.”

To listen to this and subscribe to future episodes in this governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

To receive updates and alerts on the issues raised in this podcast mini-series, subscribe to Ashurst’s regular Governance and Compliance updates.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Ashurst’s Neil Donovan and Sophie Suri are back for the first Corporate Crime & Investigations episode of 2026. This time, they are taking a look at HMRC's enquiry process and how this can lead to a period of investigation and external scrutiny for corporates. They also discuss the heightened detection risk from HMRC’s new whistleblower reward scheme.

Neil warns: "There's a risk this could very quickly spiral into a multi-agency investigation where you're fighting on various fronts and facing a whole spectrum in terms of liability risk." Sophie discusses how to respond to an enquiry notice. Among her practical suggestions, she emphasies the importance of taking advice early, understanding the limits on HMRC's powers, and strong record-keeping so that document requests can be handled efficiently.

To listen to this and subscribe to future episodes in the Corporate Crime & Investigatons mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts. And you can read about the 2026 global enforcement issues to watch out for in this Ashurst article.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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The conversation highlights the pressure points and divergent international approaches and practical takeaways. To hear future episodes of Taxed Out, subscribe via your preferred podcast platform or visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Ashurst’s Michael Weatherley is joined by two special guests to discuss construction risks in wind projects, including how they can best be  anticipated and mitigated to avoid or manage disputes between developers and contractors. George Fisher is a senior contentious construction solicitor at SSE Renewables and Kia Hua Tan is a senior legal counsel at Seatrium Limited.

The trio considers the unique nuances and curve balls that can hamper wind projects, including  tight margins and split procurements driving complex interface risks. As the discussion makes clear, careful and precise planning is required to allow for things like extreme weather, vessel availability and rising offshore logistics costs.

On cost volatility, both our guests stress the importance of clarity in fixed-price contracts and price escalation mechanisms to avoid surprises later on. They also flag quality issues across package boundaries, suggesting that these require detailed interface matrices and harmonised dispute provisions to avoid protracted blame games between contractors.

To listen to this and subscribe to future episodes in the Caught In The Crosswinds mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

To learn more about the issues raised in this episode, read this article on the Ashurst website.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode of our UK Governance & Compliance mini-series, we explore cyber readiness as one of the top risk-related priorities for boards in 2026. We look at the sobering costs of large disruptions —noting the cause is often small-scale security lapses. We explore the changing cyber landscape including the UK’s expanding Cyber Resilience Bill and the shift to operational disruption as the primary threat. Plus, we provide practical guidance for boards.

Podcast host Will Chalk is joined by John Macpherson, an Ashurst risk advisory partner in Sydney. Also joining the conversation are London colleagues Rhiannon Webster, a partner in Ashurst’s digital economy transactions practice, who heads up the UK cyber response and data protection team, and Matt Worsfold, a partner in Ashurst’s risk advisory team.

To listen to this and subscribe to future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

To receive updates and alerts on the issues raised in this podcast mini-series, subscribe to Ashurst’s regular Governance and Compliance Updates. Read more about the recent AGC Conference here. And read our latest update here about Narrative and Financial Reporting, and Economic Crime and Corporate Transparency.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Colin and Vanja break down the ATO’s FY25 settlement and certainty data, including the decline in APAs, the rise of bilateral agreements, and growing use of the Mutual Agreement Procedure. They also reflect on the landmark decisions that shaped 2025 from embedded royalties and anti-avoidance in PepsiCo and Hicks, to Division 855 disputes in YTL and Newmont, and the Bendel decision now before the High Court.

Finally they close with the 2026 cases to watch, including Bendel, Tabcorp, Coca-Cola and The Star, and share practical steps for taxpayers preparing for another active year of reviews, audits and litigation.

To follow the series, visit ashurst.com or search for Ashurst Legal Outlook on your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

The episode is intended to sit alongside, and complement, our annual publication which is available on our website. The publication looks at key highlights and market developments in 2025 and give some predictions for 2026. The publication also covers the key legal and regulatory developments over the last quarter, and the tables summarising the key features of firm offer announcements throughout 2025 can be found at the end of the publication.

To listen to this and to subscribe to future episodes in our mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode, hosted by Fiona Garside, Nigel Parr, Chris Eberhardt and Tom Punton reflect on the political context driving changes to the Competition and Markets Authority’s (CMA) approach to merger control. The discussion then looks at what the CMA's 4Ps framework means for merger control in practice, including faster timelines and greater engagement between the CMA and the merging parties.

The competition team also consider how the CMA’s approach to remedies is developing, including a greater willingness to consider behavioural commitments. To conclude, the team highlight key developments to watch out for in the year ahead, including key cases and the proposed reforms to the Phase 2 decision-making process.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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In the first 2026 episode of our UK Governance & Compliance mini-series, we reflect on the hot topics and key takeaways from company AGMs held across the UK in 2025. We cover a lot of ground in less than 20 minutes – from executive remuneration to shareholder engagement to sustainability reporting and beyond – explaining how companies are responding to the UK’s constantly shifting regulatory landscape.

Podcast host Will Chalk is joined by regular guest Becky Clissmann, sustainability counsel at Ashurst. Also on board are London colleagues John Papadakis, a senior counsel in Ashurst’s incentives practice and Maria McAlister, a senior associate in Ashurst’s corporate transactions practice who focuses on equity capital markets.

In conjunction with our AGM podcast above, our experts summarise key developments to be aware of when preparing for 2026 annual general meetings and compiling the narrative aspects of annual reports. To read the briefing click here.

To listen to this and subscribe to future episodes in our governance and compliance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

To receive updates and alerts on the issues raised in this podcast mini-series, subscribe to Ashurst’s regular Governance and Compliance Updates. Read more about the recent AGC Conference here, and read our latest AGC Update here.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Ashurst’s Ruth Harris and Rebecca Clarke are joined by expert colleagues from Frankfurt and Munich to discuss Germany’s burgeoning data centres market. Together, they discuss funding and investment structures, the regulatory landscape, who the major players are, and challenges that could slow progress.

Derk Opitz kicks us off by outlining the current shape of the data centre market in Germany, and how realistic industry aspirations are in light of grid connection issues. Marina Arntzen says the M&A market is “highly active”, describes common investment models, and explains the kinds of data centre assets and platforms that are attracting attention from investors.

Derk also discusses where the capital is coming from (including the licencing requirements required for lenders and investors), and he explains how investment models are evolving. And Stefan Bruder points out who the major investors are and reveals what is driving these investments. This comprehensive discussion then rounds off with regulation and government intervention.

To listen to this and subscribe to future episodes about data centres, search for “Ashurst Legal 

Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To read Ashurst’s regular article series on data centres, visit this web page. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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In episode 2, we unpack the potential risks that come from these collaborations, and then discuss ways to mitigate and address those risks.

Ashurst’s Simon Williams returns and is joined by Meredith Fitzpatrick. As a former FBI Special Agent, and now Forensic Risk's Director of Cryptocurrency Investigations, Meredith brings unique insight into digital assets risk.

To listen to this episode and subscribe to future episodes, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify, or wherever you get your podcasts. To find out more about the full range of Ashurst podcasts, visit www.ashurst.com/podcasts.

For more Digital Assets thought leadership from Ashurst visit www.ashurst.com/digitalassets

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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They explore how developers and suppliers can secure scarce manufacturing slots, and progress critical path work years before a full turbine supply agreement is signed, while still preserving the flexibility needed for long, uncertain development cycles.

The discussion ranges across what “capacity reservation” should really mean in practice, how to balance exclusivity with rescheduling rights, and how good drafting can anticipate regulatory volatility, tariffs and shifting political winds without reopening the entire deal. The discussion also touches on the need for more balanced risk allocation across the value chain, the role of governments and subsidy regimes such as CFDs, and why collaboration between developers, suppliers and policymakers is key to avoiding disputes before they arise.

To follow the series and access the first article in the Caught in the Crosswinds series, visit https://www.ashurst.com/en/insights/caught-in-the-crosswinds-part-1/. To listen to future Caught in the Crosswinds episodes, search for “Ashurst Legal Outlook” and subscribe on Apple Podcasts, Spotify, or your favourite podcast player.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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The discussion looks at how regulators and industry are responding, including Victoria’s push for a more coordinated policy approach, New South Wales’ use of state significant development pathways and a single metropolitan water authority, and what Australia can learn from international initiatives such as the Climate Neutral Data Centre Pact.

To keep up to date with the latest news and developments in M&A and corporate law subscribe to Ahead of the Deal our monthly Australian M&A briefing. And to listen to this and subscribe to future episodes of the Data Centre mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

To listen to this episode and subscribe to future episodes, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or wherever you get your podcasts. To find out more about the full range of Ashurst podcasts, visit www.ashurst.com/podcasts.

New to digital assets? Read Ashurst’s Digital Assets 101 explainer: https://www.ashurst.com/en/insights/digital-assets-101/  

For more Digital Asset thought leadership from Ashurst, visit www.ashurst.com/digitalassets

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Rhiannon Webster is joined by Rebecca Seaman and Abby Kay, who are Legal Counsel in the Product and Technology Legal team at Sage.

Rebecca and Abby talk through their career journeys that have taken them from literature and languages degrees to leading legal support on AI strategy at a global tech company. They share how they made the leap into in-house legal work and what it's like advising on AI developments in real time.

They also discuss Sage’s work in helping to empower the next generation of women in tech, including initiatives like EmPowerCyber, which introduces school-age girls to careers in technology and cybersecurity.

To listen and subscribe to this Women in Tech mini-series, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

They explain the strict technical rules under the Fair Work Act, why eligibility matters, and how cases like Collins, Sydney Water, and Naden show the real consequences of missing key steps in the process. They also explore the harder question of reasonable business grounds, including what the Westpac decision means for employers, why general statements about teamwork or culture may not be enough to refuse a flexible work request , and how long-standing remote work arrangements may shape the outcome.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode, we discuss several nations’ contrasting approaches to the regulation of AI. In particular, we shine a light on practical challenges for employers, including how they use AI in recruitment and how AI is used to monitor employee performance. 

Ashurst’s Andreas Mauroschat hosts the podcast from Germany. He’s joined by his colleagues Ruth Buchanan in the UK, Trent Sebbens in Australia, and Clarence Ding in Singapore. Together, they discuss how their respective jurisdictions are seeking to strike a balance between fostering innovation, maximising productivity, and considering their workforces.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Ashurst’s Ruth Harris is joined by a panel of Paris and London colleagues to explore France’s remarkable data centre momentum, in the wake of the latest Choose France Summit.

France’s energy mix (majority nuclear, backed by hydro and renewables) equips the nation for AI workloads that demand huge power consumption while maintaining net zero credentials. So together Rebecca Clark, Mark Barges, François Hellot, Nicolas Quoy and David Noblinski paint a picture of France’s tantalising data centre prospects.

The episode highlights France’s strategic advantages and current challenges in developing its data centres industry, including permit and consent processes that can drag out “in excess of 10 years”. There’s also discussion about key movers and shakers in the investment market and standout projects to watch, along with data sovereignty and cybersecurity, commercial lease protections, and the evolution from “single asset deals” to platform investment strategies.

To listen to this and subscribe to future episodes about data centres, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To read Ashurst’s regular article series on data centres, visit this web page. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

The episode is intended to sit alongside, and complement, our quarterly publication which is available on our website. The publication looks at key highlights and market developments in the second quarter, as well as relevant legal and regulatory developments. The publication also includes tables summarising the key features of firm offer announcements made during the quarter.

To listen to this and to subscribe to future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Host Rhiannon Webster is joined by Ashurst colleagues Anthony Asindi and Tom Brookes to zoom in on an area of the Data (Use And Access) Act that some have overlooked – the changes to the investigatory powers of the UK’s data protection regulator.

The ICO (soon to be rebadged as The Information Commission) deals with a huge volume of complaints and data breach reports annually. Rhiannon, Anthony and Tom pinpoint three notable new powers that the ICO will soon have: to compel the production of documents, to require controllers or processors to provide a report on a specified matter, and to compel individuals to attend interviews and answer questions.

As well as outlining which powers are effective now and when the other powers are likely to come into force, the podcast covers restrictions on the powers including privilege and self-incrimination – with a notable exception being where individuals may be required to answer potentially self-incriminating questions if they relate to Data Protection Act breaches. Anthony notes that refusing to cooperate could become "an aggravating factor" leading to higher fines for the controller or processor.

Tom identifies the mandatory report power as a potential "game changer," shifting the investigative burden and costs to organisations while potentially allowing the ICO to investigate more cases.

Anthony offers some illuminating comparisons with the FCA’s powers under the Financial Services and Markets Act (while cautioning that we don’t know certain that the ICO will follow a similar approach). And Tom adds that the ICO should soon provide guidance on its new powers and the circumstances where those might be applied.

To listen to this – and all our previous Data Bytes episodes – search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Ashurst partners Trent Sebbens and Rebecca Cope explore the rise of online influencers within the workforce—and what this means for employers.

Millions of Australians spend hours on social media every week. And for some, the lines are blurring between personal online activity and professional obligations. In this episode, Trent and Rebecca provide some clarity for employers around issues like enforcement of confidentiality , invasions of privacy, and court-related risks.

As well as discussing landmark Australian, UK and US legal cases relating to employees and social media activity, Trent and Rebecca suggest prudent steps that employers can take (including training staff on expectations, identifying who among their workforce is a social media influencer, maintaining a robust social media policy, and more).

To listen to this and subscribe to future Industrious Conversations episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Host Rhiannon Webster is joined by Ashurst colleague Fiona Ghosh to explain how digital IDs are swiftly changing how we live and work. Together, they discuss how the Data (Use and Access) Act creates a regulatory framework for digital identity to operate under government oversight.

Rhiannon offers an overview of the Act’s provisions including the statutory trust framework, supplementary codes and a new register of digital verification service providers. She also discusses the profound security implications of digital ID and potential multi-regulation scenarios where financial services firms might have to report breaches to the Information Commissioner's Office (ICO), Financial Conduct Authority (FCA), Payment Systems Regulator (PSR) and the new Office for Digital Identity And Attributes.

Fiona points out that, “the main impact of digital ID will be the enablement for citizens to access services in multidisciplinary ways”. For example, citizens will be able to choose how to access their benefits or records – physically or electronically. And she raises questions around resilience when businesses move to the cloud and the level of expectation (and trust) that citizens now place in digital wallets and ID.To listen to this and subscribe to future Data Bytes episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Ashurst Employment partners Peter McNulty and Julia Sutherland explain why and how Australia’s employment laws require a more nuanced approach to restructuring than in years gone by. Together, they tackle everything from redeployment and penalties for late payment of entitlements to contractor arrangements and employee consultation. They also discuss health and safety matters, including psychosocial risk, and they emphasise the importance of robust, documented plans.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

There’s a lot of excitement around India’s data centre in market and with good reason. India already has around 1.2 gigawatts of live IT load capacity. In 2025 alone, the nation has already added roughly 250 megawatts and experts predict capacity will rise to 1.8 gigawatts by 2027, before reaching 4.5 - 5 gigawatts by 2030.

In this episode, podcast host Ruth Harris is joined by Ashurst colleague Kalpana Unadkat to explain what is driving India’s extraordinary surge in data demand, how the government is responding, the types of facilities being built, and who the movers and shakers are among investors. Along the way, Kalpana offers an assessment of how mature the market is, and picks out some notable joint ventures and occupiers. She also reflects on the trends that will shape data centre activity in the years ahead.

To listen to this and subscribe to future episodes about data centres, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To read more about data centres, head to Ashurst's data centre insights hub. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Host Rhiannon Webster is joined by Ashurst colleagues Nicolas Quoy and Shehana Cameron-Perera to discuss how the Data (Use and Access) Act 2025 amends Privacy and Electronic Communications Regulations (PECR) and changes marketing practices and uses of cookies.

Shehana provides a snapshot of the amendments to PECR and what these mean for marketing practices. She also runs through the list of what cookies are categorised in PECR as being "strictly necessary cookies” and explains that, for analytics and appearance cookies, there are additional exceptions from obtaining consent.

Nicolas draws some constructive comparisons between French and UK marketing and cookies practices and regulatory approaches and describes the EU’s enforcement approach which attracts substantially higher fines. Whilst the Data (Use and Access) Act appears to bring the UK in line with France from a cookie perspective, there are probably still differentiations across Europe which will require a country-by-country approach when looking at cookie compliance.

Rhiannon explains how the Data (Use and Access) Act has aligned enforcement powers under PECR to the UK GDPR, and how this might inform compliance efforts and impact the ICO's approach to fining, particularly for marketing infringements.

To listen to this and subscribe to future Data Bytes episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Ashurst partner Rhiannon Webster has assembled an expert team to unpack what the Data (Use and Access) Act means for AI, including data protection and IP-related matters. This includes Rhiannon’s Digital Economy team colleagues Will Barrow and Tom Brookes alongside Ashurst IP expert Aaron Cole.

Together, they explain what’s changed and what lies ahead for organisations developing and deploying AI. Aaron lays out the copyright policy options the government is weighing up in the coming months, and highlights pertinent court cases over how copyright protected materials are used by AI platforms.

Tom summarises data protection changes relating to automated decision-making and AI. He explains why this could prompt organisations to expand the way they use such AI tools, and what the impacts might be of rules splintering between the EU and UK. Tom also describes the more permissive environment for taking automated decisions using personal data, which has implications for HR and Finance leaders in particular.

To listen to this and subscribe to future Data Bytes episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Drawing on Mackenzie’s extensive experience in disability inclusion and workplace strategy, they unpack why traditional investigation models often overlook the needs of neurodivergent participants and what simple, practical steps employers can take to change that.

Tamara and Mackenzie discuss key issues like preparing participants for interviews, designing inclusive meeting environments and framing questions with clarity. The conversation also covers the importance of process flexibility and why offering adjustments should be standard practice for all participants.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Ashurst colleagues Rhiannon Webster and Dr Alexander Duisberg join the podcast from London and Munich respectively to discuss the Data (Use and Access) Act’s framework for smart data schemes.

“Smart data schemes are seen by the UK government as a way to increase competition and create greater opportunities for innovation, save time for consumers, reduce costs, and increase the quality of services,” explains Rhiannon. “They also look to improve the security of data sharing and increase the trust in data sharing mechanisms.”

Together, Alex and Rhiannon describe the contrasting approaches of UK and EU regulators and what can be learned from these. This includes a comparison of the key provisions and limitations of the UK’s Data (Use and Access) Act and the EU Data Act – from trade secrets and data usage to innovation and competition. And there’s discussion of what might be covered in secondary legislation in the UK and EU.

Alex also outlines how proactive EU companies have prepared themselves for September’s implementation, going beyond compliance to enhance data strategy and pursue new business opportunities.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

There has been no lessening of the volatility which marked the start of the year but, where broader global M&A appears to have dropped off, there has been a flurry of UK public M&A. The trio describe the trends they are seeing in the market, recent publications by the Panel and what to expect for the rest of the year.

The episode is intended to sit alongside, and complement, our quarterly publication which is available on our website. The publication looks at key highlights and market developments in the second quarter, as well as relevant legal and regulatory developments. The publication also includes tables summarising the key features of firm offer announcements made during the quarter.

To listen to this and to subscribe to future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In the fifth episode of Ashurst’s Governance and Compliance mini-series, Will Chalk is joined by Becky Clissmann and Marianna Kennedy to unpack two major developments in the UK corporate environment, which includes a trio of new government consultations on sustainability reporting, and the introduction of ‘PISCES’ (Private Intermittent Securities and Capital Exchange System), a new trading facility for private company shares.

Becky breaks down what the three UK consultations mean in practice, including the move to adopt international sustainability standards (IFRS), potential new requirements around climate-related transition plans, and proposals for auditing sustainability disclosures. She outlines what companies can do now, including conducting gap analyses, checking scoping criteria, and preparing for eventual legislative changes.

Marianna explains how PISCES is set to open up liquidity options for private companies. She describes how the system works, who it applies to, and what the benefits are, including potential tax advantages and tighter control over trading.

The discussion also reflects on whether the UK is diverging from the EU in its approach to sustainability, how the PISCES regime fits into wider capital markets reform, and what all this means for boards, legal teams and company leadership in the months ahead.

To listen to this and to subscribe to future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. And to follow these unfolding issues, subscribe to Ashurst’s regular Governance and Compliance Updates. You can also find out more about the full range of Ashurst podcasts at ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this brand new Legal Outlook series, DataBytes, Partner Rhiannon Webster is joined by Senior Associates Shehana Cameron-Perera and Tom Brookes to break down what’s in (and out) of the legislation, and why it matters. With Royal Assent now granted, this new law marks a shift in how UK organisations manage data compliance, privacy rights, and digital operations.

In this launch episode, they cover:

• The provisions that survived, and those that didn’t
• Changes to complaints, and individual rights
• Impacts on scientific research, data transfers, and legitimate interests
• Why this Act goes beyond privacy to touch AI, IP, and smart data schemes.

The team also outlines implementation timelines, regulatory guidance to watch for, and what steps organisations should start taking now.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode, we bring together a panel of Ashurst experts with many years’ experience working in corporate transactions and technology in the Middle East. Together, they discuss where the data centre landscape is today—and where it’s heading tomorrow.

Host Ruth Harris is joined by Ashurst colleagues Simon Rahimzada and Vasi Papadopoulos who serve Ashurst’s Middle East practice across offices in Riyadh, Dubai, Abu Dhabi and Jeddah. Simon and Vasi paint a vivid picture of data centre growth in the region and what is fueling the surging demand. They also explain investment flows, emphasise the importance of government backing, and discuss how AI is changing the game.

Simon provides a snapshot of changing regulatory priorities, where ESG fits into the investment equation, which international and regional players are investing in the region, and how collaborations and joint ventures can accelerate speed to market. And Vasi adds that regional entities (e.g. Abu Dhabi Investment Authority, Saudi’s Public Investment Fund, etc) are diversifying into global markets, too.

The panel also pinpoints the challenges to watch out for in the Middle East region, including the need for the necessary infrastructure and environment to support data centres.

To listen to this and subscribe to future epsiodes about data centres, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To read more about data centres, head to Ashurst's data centre insights hub. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

They explore key aspects of the tort, including:
• What qualifies as a “serious” invasion
• Employee surveillance and data monitoring
• The limits of employee consent
• Risks around third-party data sharing and AI use

Together, Jennie and Geoff outline how the new tort closes gaps left by the Privacy Act, particularly around employee records, and why employers need to rethink consent, transparency, and policy design. They also highlight proactive steps organisations can take now, such as revisiting employment contracts, reviewing privacy policies, and updating staff training to reduce exposure and meet this new legal standard.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. To explore more from Ashurst’s podcast library, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In the latest episode of our UK Governance & Compliance mini-series, our expert team reflects on the fast-evolving corporate criminal landscape in the UK, and what companies need to do about it.

Together, Ashurst colleagues Will Chalk, Ruby Hamid and Neil Donovan consider recent leadership changes in the UK’s enforcement authorities and the difference that will make in practice. As Ruby points out: “For companies, that means greater risk of conduct being identified, investigated and enforced.”

The trio discuss updated guidance for companies that self-report and cooperate with investigations into corporate fraud and the impact of the Economic Crime and Transparency Act which brings in a new criminal offence of failing to prevent fraud as well as expanding the scope of those who can expose companies to criminal liability.

With the landscape in such flux, this episode offers some timely analysis of companies’ risk exposure, and underlines the importance of culture, escalation and communication channels for employees to report concerns. Our experts also share the latest issues regarding supply chain risk.

To listen and to subscribe for future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To stay up to date with these unfolding issues, you can read Ashurst's latest Governance and Compliance Update.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Could a move to Spain cut your carried interest tax bill in half, without the usual legal grey zones? What if your next bonus came with sunshine, sangria, and a 50% rebate from the Spanish tax authorities? This episode in the Tax Lyrical mini-series breaks down Spain’s new carried interest regime and asks whether a five-year holding period is a gateway to major savings or a hidden pitfall waiting to catch fund executives off guard.

To unpack Spain’s new carried interest regime, Ashurst’s Patricia Allen is joined by Javier Hernández Galante. Together, they explore the key requirements, tax benefits, and common pitfalls of the new framework, as well as how it compares to previous treatment under Spanish law. “The goal is to bring clarity where there was once uncertainty,” explains Javier, highlighting why Spain may now be a serious contender for fund executives looking to optimise both tax and lifestyle.

This is the latest episode in our mini-series on tackling tax issues and investment funds. To listen to this episode and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

It’s often said that there are two types of companies: those that have been hacked and those that are going to be. With cyber threats constantly evolving and escalating, the Department of Science, Innovation and Technology this year issued the UK Cyber Governance Code of Practice.

For this latest episode of our UK Governance & Compliance mini-series, we’ve gathered a team of experts to answer the questions that directors and in-house legal teams are asking. These include: How does the code work in practice? What actions are required to comply with the Code? Where should directors start? What role should legal teams play in incident planning and response? What guidance is available? What part does training have to play? And, looking ahead, how likely is the Code to become a mandatory regulatory requirement?

Joining Ashurst’s Will Chalk to discuss these issues (and more) are Rhiannon Webster, Ashurst's UK head of data protection and cybersecurity, and Rachael Falk, a partner in Ashurst’s Risk Advisory team in Sydney, Australia.

To listen and subscribe to future episodes in our governance and compliance mini-series, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

• Restraint of trade reforms
• Security of employment and enhanced safety net (NES) protections
• Bargaining;
• Long service leave changes; and
• AI in the workplace.

They discuss the likely changes to post-enmployment restraints, particularly non-compete clauses, the possible expansion of labour hire protections, the push towards preserving penalty rates, and increased protections in rostering and flexible work arrangements.

They also speculate on Australia’s prospects for forced bargaining, multi-employer bargaining, a universal long service leave scheme, and the regulation of artificial intelligence in the workplace. Along the way, they reflect on if and how the mooted changes might impact Australia’s lagging productivity.

To listen to this and subscribe to future episodes of Industrious Conversations, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

An expert panel from around the globe explains what is prompting the surge in internal investigations and how employers in various jurisdictions are rising to the challenges. Along the way, they discuss their nation’s approaches to employer liability, prevention, complaint handling

 and allegations, timeframes, fines and compensation, plus other sensitivities and complexities of workplace investigations. It’s an illuminating summary that highlights trends and options  of note to employers and HR teams everywhere.

Ashurst’s Kirsten Scott hosts this episode from Perth, Australia. She’s joined by Crowley Woodford in the UK, Andreas Mauroschat in Germany, Cristina Grande in Spain, Norman Ibnuaji in Indonesia and Jordan Cohen in France.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those developments referred to. Listeners should take legal advice before applying this information to specific issues or transactions.

See omnystudio.com/listener for privacy information.

When it comes to Spain’s data centres, how can domestic and overseas investors put themselves in pole position? Which financing options are most effective? How well do banks understand these assets? Where might the hidden obstacles be?

All these questions – and more – are tackled in this podcast discussion on Spain’s booming data centres market. Joining us from Madrid, Ashurst colleagues Ismael Fernández Antón and José Christian Bertram cover a lot of ground in under 20 minutes, mapping the financing landscape and describing the market’s intricacies. This episode is a must-listen for anyone considering deals in this growing asset class.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To read more about data centres in Spain, read this article on the Ashurst website. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In today’s episode Ashurst’s Will Chalk is joined by two people who were closely involved in industry consultations relating to the UK Corporate Governance Code; Ashurst risk expert Nisha Sanghani and ICAEW governance lead Peter van Veen. They consider what changes to Provision 29 will mean for regulated organisations in the UK.

The episode includes a summary of what the new requirements involve and a practical road map for compliance, covering areas of greatest urgency, likely judgment calls, and the possible impacts for assurance. The trio also debate whether the description “Sarbanes-Oxley via the back door” is an apt one for revised Provision 29.

To listen and subscribe to this podcast, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

The episode is intended to sit alongside, and complement, our quarterly publication which is available on our website. The publication looks at key highlights and market developments in the first quarter, as well as relevant legal and regulatory developments. The publication also includes tables summarising the key features of firm offer announcements made during the quarter.

To listen and subscribe to this podcast, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Experts at a recent Ashurst seminar dived deep into the funding issues associated with data centres. Among the participants were Ashurst’s Ruth Harris, Rebecca Clarke, Chris Grey, and Rhodri Lewis – and in today’s podcast they share the highlights and talking points.

On the investment side, the seminar discussed strong demand, low vacancy rates, and high barriers to entry due to construction costs, regulatory scrutiny, and power access. With major M&A activity already underway, several capital destinations were flagged up including the Nordics, Spain, Italy and Greece, and the importance of subsea cable access and geopolitical factors was emphasised. 

From a financing perspective, the move towards longer term lender/sponsor partnerships was covered. Among several hot topics, the seminar explored the challenges of securing early-stage finance, structuring for future asset exits, and lifecycle capex planning amidst rapidly advancing technology. It was also noted that increased lender appetite raises the possibility of earlier involvement in projects and interest in more flexible finance options.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To read more about data centres, head to Ashurst's data centre insights hub. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Ashurst’s recent Data Centre Seminar featured some of the brightest minds and latest innovations. Fresh from attending the event, Ashurst’s Ruth Harris and Rebecca Clarke reflect on the highlights and key takeaways in this podcast episode.

As Ruth and Rebecca explain, a wide variety of topics were covered in a short space of time at the Seminar. Discussions about planning and construction included practical tips for engaging with planning authorities and aligning data centre projects with local community benefits to accelerate project approvals. This was illustrated by expert guest Emma Williamson, who has worked extensively integrating data centres into urban regeneration schemes and harnessing their heat output for district energy networks.

Rebecca and Ruth also explain how data centres contribute to local job creation in the construction sector and beyond. They emphasise the value of smaller regional data centres, and they also ponder the power supply and sustainability issues that were flagged by industry leaders Tim O’Reilly and Edward Sargent.

All in all, it’s an episode that underscores how vital (and valuable) data centres will continue to be as AI and the digital world expand in the years to come.

To listen to this and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To read more about data centres, head to Ashurst's data centre insights hub. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Along the way, Scarlet and Bruce discusses the threshold for psychosocial harm and whether stress meets that test, the complexities of what constitutes “reasonable management action” and the importance of regularly updating employer policies. They also emphasise the value of training and instruction for line managers so that they can handle sensitive discussions in a way that is legally compliant, psychologically safe, and appropriate.

“There’s so much learning to come in this area,” Scarlet adds. “Guidance from courts will be very important as this area of the law continues to develop.”

To listen to this and subscribe to future episodes in this series search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

While consumer protection jurisdictions in Australia and Italy have seen strong and active enforcement, the enforcement powers in the UK were relatively weaker – until 6 April 2025, when the Competition & Markets Authority's new direct enforcement powers became active.

In this episode, Ashurst colleagues Fiona Garside and Chris Eberhardt explain how the UK’s new regime represents a major change to the way consumer law is enforced, including potentially significant penalties for breaches (up to a maximum of 10% of the company's global turnover) as well as redress requirements and other directions or remedies.

Joining Fiona and Chris are Gabriele Accardo and Melissa Fraser from Ashurst’s Milan and Sydney offices, respectively. Gabriele and Melissa explain how consumer protection enforcement works in Italy and Australia. They outline how prudent organisations approach compliance, including setting a culture from senior management downwards. And they share the regulatory priorities and trends that are shaping the agenda in their respective countries.

Together, the four colleagues reflect on what UK organisations can learn from their overseas counterparts.

To listen and subscribe to this podcast, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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In this episode, we cast the spotlight on the CMA’s early investigations under the Digital Markets, Competition and Consumers Act 2024 (the DMCC Act). The UK’s new digital regime came into force in January this year, introducing widespread changes to competition law, the enforcement of consumer law and a regime regulating designated digital companies in the UK. Under the DMCC Act, the CMA has the power to designate companies with “strategic market status” (SMS), impose tailored conduct requirements, and make pro-competition interventions.

Together, Ashurst’s Fiona Garside, Chris Eberhardt and Isabella Hunt discuss the CMA’s first SMS investigations into Google’s search and advertising services, and Apple’s and Google’s mobile ecosystems.

The conversation highlights the activities under investigation, emphasises the importance of third-party input to shape regulatory outcomes, and draws comparisons with the EU’s Digital Markets Act. There’s also discussion of how the CMA’s “4 P’s framework” (pace, predictability, proportionality, and process) might apply and speculation about future investigations into the UK’s highly concentrated cloud services market.

To listen and subscribe to this podcast, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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In this first episode of this new mini-series, Ashurst colleagues  Will Chalk and Becky Clissmann are joined by Falcon Windsor’s Claire Bodanis to explain the impact of the EU’s Omnibus package and how non-EU companies can best prepare for what’s coming.

Together, the trio describe the legislative landscape and where it’s headed, focusing on the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CS3D), and the EU Taxonomy. They highlight two amending directives from the EU Omnibus package which delay CSRD reporting and due diligence requirements.

This episode includes practical advice for companies to ascertain whether they remain within the scope of the CSRD. There's also discussion of how markets are reacting and whether or not the changes will simplify compliance and achieve genuine deregulation.

The episode also underlines the need for strategic preparation, ongoing monitoring of regulatory developments, and transparency in reporting.

To listen and subscribe to this podcast, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Special guest Miles Bake shares his take on what makes financial services regulators tick. This is something he’s uniquely placed to do, having worked extensively in leadership roles at the Prudential Regulatory Authority (PRA) and at the Financial Conduct Authority (FCA).

In this episode, host Nathan Willmott and his Ashurst colleague Adam Jamieson ask Miles the burning questions that financial services firms often ask, including:

• Why have the financial services regulators increasingly leaned harder into enforcement in recent years?
• How do regulators determine which firms do and don’t get referred for investigations?
• In the absence of targets or metrics, how do regulators decide the appropriate level of enforcement?
• Since the Parliamentary Commission on Banking Standards, how successful has the senior managers regime been?
• How aligned or divergent are the FCA and PRA’s enforcement policies and actions?
• During investigations, how do regulators balance the need for transparency with firms’ reputational risks?
• When enforcement heads consider policy decisions, how do they determine when government consultation is required?
• Considering the FCA’s aim to promote competitiveness, how might enforcement policy be shaped by the government’s growth agenda?

To hear Miles tackle these questions (and to subscribe to future episodes in our enforcement mini-series) search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your preferred podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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In this episode, we explain some quite draconian FCA powers – ‘voluntary requirements’ (VREQs) and ‘own initiative requirements’ (OIREQs) – and how these are impacting financial services firms.

To tackle this thorny subject, we’ve gathered a crack team of specialists in financial services regulation. Host Nathan Willmott is joined by his Ashurst colleague Adam Jamieson and special guest Oliver Assersohn KC of XXIV Old Buildings.

Together, they unpack how these intervention powers allow the FCA to impose restrictions on firms without formal investigations, often pressuring them into compliance within tight deadlines. The trio explain the legal thresholds for these requirements, the increasing willingness of the FCA to test these boundaries, and how firms are responding.

As well as outlining the practicalities of negotiating with the FCA, our expert panel flags the risks for firms during interventions and the potential for challenging the requirements in the Upper Tribunal.

To hear this (and to subscribe to future episodes in season two of our enforcement mini-series) search for “Ashurst Legal Outlook” on Apple Podcasts, 

Spotify, or your preferred podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Now that the dust has somewhat settled, this podcast looks at the impact of new consumer protections introduced by the FCA in 2023. For many financial services firms this has been a huge shift; requiring a fresh approach to regulation, governance, management information, and more.

In this episode, Ashurst colleagues Nathan Willmott, Jake Green and Adam Jamieson offer a balanced view of the relative highs and lows of the Consumer Duty so far. They discuss the FCA’s focus on vulnerable customers, analyse the regulator's communications explaining its expectations to firms, and reflect on the FCA’s broadly positive view of how firms have responded.

While acknowledging the administrative burden on firms, Adam and Jake agree that the Duty has had a positive cultural impact. And Nathan points out that the Duty is one way in which the FCA is using a broader toolkit to get firms to do what it wants them to do.

Our expert panel also point out some areas of concern (including hidden costs and the unpredictability of where enforcement may occur), and they highlight some of the FCA’s learning experiences to date. The trio discuss what “doing the right thing” means in practice and how much risk this carries for regulated firms. And finally, they suggest some modifications that the FCA could make to its approach, which would ensure the Consumer Duty has the most effective impact going forward.

To hear this (and to subscribe to future episodes in season two of our enforcement mini-series) search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your preferred podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Insolvency risk. Legislative developments. Labour shortages. Difficulties like these made 2024 a challenging year for many in the UK’s construction sector. So what can we expect in 2025?

In this episode, we tackle a number of topics. Ashurst colleagues Sadia McEvoy, Chris Whitehouse and Matt Pearson discuss the still-unfolding impacts of the Building Safety Act, the warning signs of construction insolvencies, the sector’s bid to meet net-zero targets, how modular construction might address productivity and labour issues, the legislative changes to watch, and the potential upside of more collaborative procurement strategies.

To hear this episode search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your preferred podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In the latest episode of our continuing mini-series on financial services regulation, we explain the latest developments on the FCA’s controversial proposals on transparency and public announcements during investigations.

Host Nathan Willmott  is joined by Ashurst colleagues Eleanor Robinson  and Adam Jamieson  to summarise what has changed in the draft transparency proposals;  the most important being the change to the public interest test (which now states that the FCA must consider the impact on the firm of any announcement as part of the public interest test); and the increased period of notice that firms can expect of publication (from 1 business day to 10) . They also probe some of the case study examples provided by theFCA.

While the FCA anticipates there will be very few cases each year, Adam points out that this policy “might be enforced for decades and [FCA] strategy will change, cases will change, personnel at the FCA will change – all factors that could influence the number of investigations and therefore the impact of this type of policy”. And irrespective of how many firms are affected, Adam adds that “if you are one of the firms who does get named … it’s going to be your business [and reputation] that gets harmed”.

As well as discussing the implications for firms under investigation and what the new case studies do (and don’t) clarify, our expert panel reflects on the political heat this policy has generated and whether that could yet scupper the proposals before they comes into being. Following the current consultation period, the FCA intends to make a decision by the end of March 2025.

To hear this (and to subscribe to future episodes in season two of our enforcement mini-series) search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your preferred podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

The UK real estate sector is poised for significant legal developments in 2025. Ashurst’s specialist real estate disputes lawyers Alison Hardy, Joe Perry-Courtade, and Debbie Eliad unpack the key legal issues, trends, and cases shaping the industry. From the push for net zero to the latest developments in tenant insolvency, this discussion provides insights to help stakeholders navigate an evolving landscape.

Episode talking points include:

• Net Zero Targets: The growing focus on energy-efficient retrofits and sustainability is driving disputes over stranded assets, demolition vs. retrofitting, and service charges for funding upgrades.

•  The Building Safety Act: Key rulings like Triathlon Homes are reshaping landlord and developer obligations, with significant appeals expected in 2025.

• Service Charge Disputes: Cases such as Brewster House highlight the tension between landlord obligations and tenant liabilities for structural defects.

• Landlord and Tenant Act 1954 Consultation: Proposed reforms could dramatically alter security of tenure rights in the commercial leasehold market.

• Telecoms Code Challenges: Disputes over old agreements, leases, and renewal rights remain contentious, with key clarifications needed.

• Tenant Insolvency and Restructuring Plans: The Cineworld case showcases how restructuring plans are impacting landlords and tenants, with valuable lessons for proactive negotiation.

List of cases discussed:

· Triathlon Homes LLP -v- Stratford Village Development Partnership and others [2024] UKFTT 26 (PC)

· Adriatic Land 5 Limited -v- The Long Leaseholders at Hippersley Point [2023] UKUT 271 (LC)

· The London Borough of Tower Hamlets -v- Lessees of Brewster House and Malting House [2024] UKUT 193 (LC)

· AP Wireless -v- On Tower UK Limited [2024] UKUT 263 (LC)

· Gravesham Borough Council -v- On Tower UK Ltd [2024] UKUT 151 (LC)

·         UK Commercial Property Finance Holdings Ltd -v- Cine-UK Ltd & Anor [2024] EWHC 2475 (Ch)

· Responding to the consultation on the Landlord and Tenant Act 1954.

To listen and subscribe to this podcast, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Our panel for this episode includes host Nathan Willmott, his Ashurst colleague Adam Jamieson and special guest Adam Temple, a barrister at 3 Verulam Buildings (3VB). Together, they reflect on the evolution of the Financial Ombudsman Service ,which was set up in 2001 to deal with consumer complaints and secure redress when things go wrong. As Adam Temple points out, two decades later “it is a quite different beast” from what was originally envisaged.

The episode then goes on to unpick some of the challenges that have beset the Ombudsman, the complainants and financial services firms. These include the increased volume of complaints, delays and complexity in the system, the notoriously tricky task of assessing what is “fair and reasonable”, and the difficulties that come with "mass redress events" (like PPI or the current issue of motor finance).

Attention then turns to possible solutions. Our expert panel starts by considering the most drastic option (e.g. dismantling the Financial Ombudsman Service completely) before suggesting more pragmatic improvements such as changing the "fair and reasonable" test that the Ombudsman is required to apply and giving the Financial Conduct Authority more power to intervene where appropriate.

To listen to this and subscribe to future episodes in our enforcement mini-series, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

The coming year will see widespread activity in the UK’s real estate asset classes, from logistics to the living sector (in its broadest sense), and from data centres to office space. In this episode, we discuss the legal changes, risks and trends to keep on your radar.

Together, Ashurst’s Alison Murrin and Richard Vernon reflect on market sentiment, government plans to deliver 1.5 million homes and fast-track major infrastructure projects, and how key asset classes, legislative developments, and sustainability goals (e.g. energy efficiency, decarbonisation, etc) may evolve.

Episode talking points include:

·         Logistics: Demand will be further fuelled by the shift to e-commerce and onshoring production, but hurdles will include site availability and housing pressure on brownfield sites.

·         Living sector: Despite government support for build-to-rent schemes and funding initiatives, the UK’s chronic housing undersupply appears set to continue. And challenges such as retrofitting older homes will loom large.

·         Data centres: Exponential growth will expose land and power shortages, alongside sustainability challenges, influenced by new EU energy reporting standards.

·         Offices: Sustainability will separate prime-grade offices from outdated stock, with retrofitting lagging behind targets to meet net-zero ambitions.

·         Legal hot topics: Proposed commonhold reforms, high street revitalisation efforts, biodiversity net gain mandates, the Renters’ Rights Bill abolishment of no-fault evictions, cladding safety, decarbonisation, and more.

To listen and subscribe to this podcast, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

With a busy year ahead for the PRA and FCA, this episode highlights some of the issues and trends that financial services firms should watch out for. For this episode, host Nathan Willmott is joined by his Ashurst colleague Adam Jamieson and special guest Saima Hanif KC, a barrister at 3 Verulam Buildings (3VB).

Together, they discuss the Upper Tribunal’s packed caseload and the challenges for barristers and individuals seeking to argue these cases, including the impact of certain judges and the FCA's new strategy on disclosure.   They also reflect on the FCA’s focus on speeding up investigations and streamlining its portfolio, consider how investigations  are prioritised, and question whether or not it’s appropriate for the FCA to have a target for the proportion of investigations closed with no action.

The conversation also tackles the vexed issue of the FCA’s penality-setting framework and what might be learned from the PRA’s approach. And finally, our expert panel flags up other issues that will shape 2025, such as the FCA’s revised proposals for naming and shaming (to be revisited in detail in a future episode), the rules around non-financial misconduct, and the prospect of a first  Consumer Duty case.

To listen to this and subscribe to future episodes in our enforcement mini-series, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Drawing on insights from Ashurst's soon to be released 2024 Bargaining Trends Survey, Ian and Peter cover key reforms to the bargaining process, including the increased power of unions to initiate bargaining, changes to the Better Off Overall Test (BOOT) and its impact on agreement approvals, and the introduction of the intractable bargaining regime, which allows the Fair Work Commission to intervene in deadlocked negotiations.

This episode also provides strategies for employers to adapt to this complex environment, emphasising the importance of thorough preparation and skilled negotiation.

To hear all episodes in the Industrious Conversations series on Australian industrial relations, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Host Crowley Woodford reflects on the potential impacts of the UK’s long-awaited Employment Rights Bill, which is shaping up to be one of the most ambitious reforms to trade union rights since the 1980s. Crowley breaks down some of the main changes which pave the way for greater union involvement, and he pinpoints issues that UK employers should watch out for.

Peter McNulty offers his take on how Australian employers have responded to recent changes to the Fair Work Act, including the process and dynamics of bargaining for agreements. Karen Mitra describes Singapore’s uniquely non-adversial approach to union/employer relationships where strike action is rare, and explains new rights to union representation for gig workers. And Norman Ibnuaji shares  perspectives from Indonesia, where unionisation is relatively high among workers and industrial action is more common.

To listen to this and previous epsiodes in our biannual World@Work series, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or your favourite podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Together, they explain how Fair Work Act amendments have broadened the criteria for multi-employer enterprise agreements, and they explain why uptake by unions has so far been low. The conversation delves into the Fair Work Commission's (FWC) criteria, such as ensuring a common interest among employers and the prohibition of coerced agreements, pointing to a recent case in the coal industry to illustrate how the FWC assesses these factors.

They also discuss the "rebuttable presumption" for larger employers, where the FWC assumes common interest unless proven otherwise. Lastly, they pinpoint challenges and defensive strategies employers can use to avoid involuntary inclusion in multi-employer authorisations (known as "roping in"), which could force employers into agreements without direct negotiation input.

To hear further episodes in our Industrious Conversations series on Australian industrial relations, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

As Jane and Elissa point out, the reforms impact independent contractor arrangements in several ways. Their conversation highlights changes relating to the classification of a worker as an employee or contractor, the introduction of a new unfair contract terms jurisdiction, and changes to the defences available where a sham contracting claim is made.

Jane and Elissa also outline how the changes may impact employers and suggest several practical ways employers can respond to these changes. This includes thoroughly reviewing contractor engagements, updating contract templates, training managers to mitigate the risk of misclassification under the new framework, and more.

To hear further episodes in Industrious Conversations, our series on Australian industrial relations, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Jon Gale, partner at Ashurst’s Dispute Resolution practice in London, is joined by colleagues Tim West and Sarah-Jane Dobson to reflect on the highlights from the firm's recent class actions conference. Together, they discuss the evolving landscape of class actions including litigation funding, competition claims, and more.

The conference showcased an array of experts including clients, claimant law firms, barristers, and funders. One highlight was the keynote speech from Mr Justice Robin Knowles CBE, who stressed the essential role of class actions in the legal system and the permanence of commercial funding in such claims.

In the podcast, Tim stresses the importance of understanding class actions from a client’s perspective, emphasising that these cases (and the associated risks) often attract C-suite attention. He also discusses the rising prevalance of environmental, social, and governance (ESG) concerns, with potential class actions arising from the gaps between corporate promises and practices.

Sarah-Jane discusses the varied treatment of class actions across sectors, particularly in competition and product liability cases. She anticipates a further rise in class actions, especially in sectors like life sciences and consumer protection.

The trio also explore litigation funding, discussing the significance of external financial backing for large class actions and the impact of the Supreme Court’s recent PACCAR ruling on funding structures.

To hear more episodes on class actions and a range of other subjects, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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The discussion centres on the commercial challenges introduced by these changes, particularly in relation to due diligence processes, labour hire, casual employment, and independent contractor arrangements. Jennie and Jon explain how these reforms affect deal-making and due diligence, where uncertainty around labour costs and employment models can complicate transactions. They also stress the importance of assessing a company's governance and systems for managing compliance, highlighting the risks of non-compliance and the significant penalties that may arise. Jon notes, "If compliance issues are identified, it's essential to have a clear program and strategy in place for remedying the non-compliance within a reasonable period following completion."

To hear more episodes in Industrious Conversations, our series on Australian industrial relations, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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Together, Talia and Scarlet explain how and why these changes came into being, and they discuss some of the subtleties that employers need to be aware of, including some upcoming milestones and deadlines. In conclusion, Scarlet emphasises: "Employers should make sure they understand the new definition of 'casual employee' and should carefully consider whether their casual arrangements meet this definition. Employers should also make sure that they have processes in place to make sure that casual employees receive the CEIS at the right times. And finally, employers need to be prepared to respond to notifications from casuals to change to permanent employment once the new employee choice pathway comes into play from 26 February 2025."

To hear more episodes in our Industrious Conversations series on Australian industrial relations, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

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"We're seeing that even though the legal changes are relatively minor, the practical implications for employers navigating industrial action are significant," notes James Hall during the episode.

• Key discussion points include:
• The introduction of section 448A conferences, where bargaining representatives must attend a Fair Work Commission meeting before voting on PABOs.
• Insights into early cases involving multi-employer agreements and PABOs.
• How employers can navigate the PABO process strategically and the importance of preparation.

For more insights into key developments in Australian industrial relations, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Should a high-net-worth individual consider moving to Italy for tax reasons? How do the nation’s Flat Tax regime and Impatriate regime work? And why might company taxpayers also consider Italy? All these questions, and more, are answered in this episode of the Tax Lyrical podcast mini-series.

To evaluate the Italian tax regime, Ashurst’s Sophie Lloyd is joined by colleagues Michele Milanese and Federico Nobili. Together the three of them discuss the benefits, incentives and complications of investing in Italy, as well as the steps required to make your finances flourish. “Our advice is to have a clear understanding of the Italian tax law and the legal tools available to taxpayers,” emphasises Michele.

This is the latest episode in our mini-series of episodes tackling tax issues and investment funds. To listen to this episode and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

This new regime, part of the Fair Work Act, requires that labour hire workers are paid a Protected Rate of Pay (PROP), aligning their wages with those of directly employed workers. The reforms have already triggered considerable activity, particularly in industries like mining, transport and aviation.

In this episode you will hear expert guidance on:

• The key criteria for the making of a Regulated Labour Hire Arrangement Order
• Exceptions where services, not labour, are provided
• Early test cases setting the tone for future rulings.

To explore key developments in industrial relations in Australia, and to gain insights from other members of the Employment team, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions

See omnystudio.com/listener for privacy information.

Workplace investigations can take many forms and be triggered by many different issues. In this episode we look at how allegations of misconduct can arise (from whistleblowing to regulatory action and more), why these are on the increase, and the challenges of managing different processes simultaneously. 

Together, Ashurst colleagues Neil Donovan, Ruby Hamid, and Hannah Martin discuss the increased scope of what is now considered misconduct, as well as the heightened expectations on employers to prevent misconduct from happening in the first place. The trio also reflect on the risks for employers that fail to take employees’ concerns seriously and they provide several practical pointers to enhance company policies and investigations.

To hear future episodes tackling corporate crime and investigations, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transaction.

See omnystudio.com/listener for privacy information.

Cyber threats come in ever-shifting shapes and forms, so how can companies keep pace? In this episode, we consider the legal and regulatory risks and discuss how best to prepare for, investigate, and respond to a cyber incident.

Together, Ashurst colleagues Neil Donovan, Julia Spain and Andris Ivanovs discuss the heightened expectations of UK financial regulators, and how this is shaping enforcement and investigations. They describe the features a robust cyber response plan, and they consider the legal ramifications of the often-complex arrangements that companies have with third parties.

To hear future episodes tackling corporate crime and investigations, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode of the series, trainee’s Khadija Patel and Nick Hwong bring a host of insights and tips to help those considering a career in commercial law navigate their way through the competitive world of legal training applications.

Nick and Khadija share practical takeaways that include how to craft an impressive application, tips on how to ace your interviews and general advice on the importance of preparing your application to stand out in the crowd.

"Preparation is key. Tailor your application to highlight your unique strengths, and approach every interview as an opportunity to showcase your genuine passion for law." - Khadija Patel.

Join us for insightful conversations that shed light on the personal and professional paths of our trainees. Whether you're considering a career in law or just curious about the experiences of our talented team, this series is for you.

For more episodes in our trainee mini-series subscribe to Ashurst's Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In Europe and the UK, the regulatory landscape is shifting for Big Tech. In this episode, we compare and contrast the EU Digital Markets Act and the UK Digital Markets, Competition and Consumers Act – and highlight the implications for multinational tech giants and the broader digital economy.

To do so, we have assembled a crack team of legal experts including Rafael Baena from Ashurst’s Madrid office, and Fiona Garside, Chris Eberhardt and Hayden Dunnett from Ashurst’s London office. Together, they consider the thresholds for designating companies under the two regimes, as well as the differing timelines, obligations and guidance in each jurisdiction. Recent developments and ongoing enforcement action are also discussed.

To listen to our previous episodes on digital markets regulation, search for ‘Ashurst Legal Outlook’ on Apple Podcasts, Spotify or wherever you get your podcasts. And to ensure you don’t miss our future episodes, make sure you subscribe too.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this third episode of the series, final seat trainee Saba Nasrolahi share her insights and personal experiences applying the crucial skill of commercial awareness in both her application and early career work experience at Ashurst.

Saba shares her journey from studying law at King's College London to her decision to join Ashurst as a trainee. She details what commercial awareness is and why it’s essential for a career in law and provides practical tips on how to develop it organically. Saba provides actionable advice for aspiring trainees, emphasising the importance of following your interests, staying updated with industry developments, and continuously building your knowledge.

Along the way Saba shares personal anecdotes about applying commercial awareness in real-world scenarios, from the virtual execution process in banking transactions to navigating businesses through political disruptions.

"Commercial awareness is … not necessarily a knowledge and expertise of the ins and outs of each part of the law or each sector. It's about understanding how businesses work and what might be impacting businesses.”

Join us for insightful conversations that shed light on the personal and professional paths of our trainees. Whether you're considering a career in law or just curious about the experiences of our talented team, this series is for you.

For more episodes in our trainee mini-series subscribe to Ashurst's Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode of our trainee miniseries, Junior Associates Aoife Weir and Divya Deivanayagam share their enriching experiences of international and client trainee secondments. Aoife and Divya explain the secondment process from their respective secondments, with Aoife working at BP in the gas and low carbon energy team, and Divya experiencing life in Ashurst’s Tokyo office. They discuss the application process, the support they received from Ashurst, and how these opportunities enhanced their professional growth.

Divya provides a glimpse into her international secondment in Tokyo, highlighting the cultural differences, increased responsibilities, and the logistical support provided by Ashurst, making the transition smooth and enriching. While Aoife recounts her client secondment at BP, and the development of her commercial awareness, the valuable relationships she built within the organisation, and the importance of timing and clarity of intent when applying for secondments.

"Timing is everything. If you know where you want to qualify and a secondment opportunity comes up, I would just say go for it. It's one of the best experiences I've taken on professionally to date." Aoife Weir.

Join us for insightful conversations that shed light on the personal and professional paths of our trainees. Whether you're considering a career in law or just curious about the experiences of our talented team, this series is for you.

For more episodes in our trainee mini-series subscribe to Ashurst's Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Fiona Garside, Chris Eberhardt, and Hayden Dunnett of Ashurst’s UK based Antitrust, Regulation and Foreign Investment Team delve into the three main pillars of the newly enacted Digital Markets, Competition and Consumers Act which promises significant regulatory changes. See our May 2024 update.

The team dissects how the new digital markets regime allows the Competition and Markets Authority (CMA) to designate firms with strategic market status (SMS), in order to impose bespoke conduct requirements and pro-competition intervention orders. The discussion highlights that the CMA's draft guidance  leaves significant questions about how the CMA will exercise its broad powers, particularly in relation to conduct requirements and pro-competition interventions.

The team also consider the CMA's draft statement of policy on administrative penalties which proposes to apply an "in the round approach" to penalties for breaches of orders and undertakings following merger and market investigations. See our July 2024 update.

To listen to more Legal Outlook episodes, including past episodes of the Digital Markets Competition and Consumer Law Act, search for Ashurst Legal Outlook on Apple Podcasts, Spotify, or your wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In our debut episode trainee Tom Segev shares his journey to joining Ashurts’s trainee program, from studying history at the University of Warwick to working at a music label, Tom details his decision-making process between pursuing music law and commercial law, and along the way highlights how he navigated these choices.

Tom also details the importance of networking and how engaging with current trainees offered him invaluable insights into the culture at Ashurst, and shares his standout moments so far, reflecting on the significant responsibilities he was entrusted with early in his training, which have contributed to his rapid professional growth.

And his advice to future trainees? "Talk to people. Talk to as many people as you can. It's the best way to learn."

Join us for insightful conversations that shed light on the personal and professional paths of our trainees. Whether you're considering a career in law or just curious about the experiences of our talented team, this series is for you.

For more episodes in our trainee mini-series subscribe to Ashurst's Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In the aftermath of Labour’s historic UK election victory, tax experts Patricia Allen, Alastair Ladkin and Sophie Lloyd shed light on some of the key tax measures likely to affect fund managers and when they are likely to be introduced during Labour’s 1st term in office.

Together the team discuss the need for non-domiciled individuals and fund managers to consider their personal circumstances and seek professional advice due to the potential tax changes which include replacing non-dom status with a new residence-based regime and taxing carried interest at income tax rates. There is a lack of detail surrounding these announcements, and therefore the discussion considers some of the possible ways these changes could be made.

This is the second episode in the Tax Lyrical mini-series tackling key tax issues. To listen to this episode and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this podcast mini-series, we highlight new approaches from UK financial regulators and discuss what they might do differently to ensure that they act both fairly and effectively. For this episode, we delve into the Senior Managers and Certification Regime (SMCR).

Together, Ashurst colleagues Nathan Willmott, Lorraine Johnston and Adam Jamieson acknowledge the positive cultural impact that the regime has had within firms, including clearer accountability and more engagement from the top down.

The trio also unpicks some of the more challenging aspects of the regime, including the spread of requirements in both PRA and FCA Handbooks, the ‘one strike and you’re out’ approach which emanates from regulatory references, and the difficulty of measuring whether or not conduct has actually improved.

They also identify improvements to the SMCR that could clear up confusion, reduce unnecessary red tape, and make the regime more equitable. To listen to this episode – and previous episodes in this regulatory enforcement mini-series – search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

As investment fund managers grapple with the potential impacts of Pillar Two legislation, a select group of Ashurst’s tax experts have compiled this podcast to demystify the details.

Adnand Sulejmani offers a brief overview of the Pillar Two legislation, its original intent and how it is enforced in Luxembourg. He also explains how to determine whether an investment fund falls within the scope of Pillar Two, including potential exemptions that exist. Alexandra Clouté explores what implications Pillar Two has for widely held and closely held Luxembourg investment funds. She also emphasises that, whatever scenario a fund finds itself in, it’s vital that fund managers perform due diligence and verify the consolidation status with investors to ensure that there are no unforeseen issues.

Patricia Allen points out that Pillar Two is more likely to apply for single investor funds or segregated mandates, and Alastair Ladkin explains how fund managers are already responding, including: making investors aware of Pillar Two, sourcing information to determine how Pillar Two applies, and deciding how to treat Pillar Two costs.

This is the first in a mini-series of episodes tackling tax issues and investment funds. To listen to this episode and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Failing to comply with the Financial Conduct Authority’s (FCA) new anti-greenwashing rules could have serious consequences for financial services firms in the UK. In this episode, we summarise the main changes and tackle the most pressing questions that firms are asking right now, including:

• Why have these changes been introduced and how do these add to the FCA’s enforcement arsenal?
• What areas do (and don’t) the rules cover?
• When will the rules come into force, how will they work in practice, and how might firms feel the impact of these?
• How does the FCA’s guidance clarify what is considered “clear, fair and not misleading”? And what difference could the changes make to firms’ marketing communications?
• How do the FCA’s changes impact firms’ ongoing compliance work in relation to climate-related financial disclosures?
• What further amendments could the FCA introduce to make the rules more effective?

Answering all these questions, and more, are Ashurst colleagues Nathan Willmott, Lorraine Johnson and Anna Varga. To listen to this – and previous episodes in this regulatory enforcement mini-series – search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Welcome to our latest episode for financial services firms and their senior management. In this mini-series, we explore how regulators and authorities are conducting investigations and handling complaints, and we suggest what might be done differently to ensure the fairness and effectiveness of regulation.

In this episode, Ashurst colleagues Nathan Willmott, Adam Jamieson and Paul Ryan-Brown discuss issues and concerns around the management of Financial Ombudsman Service (FOS) complaints, including the prominence of aggressive claims management companies and the significant impact of certain high-profile FOS decisions, most notably in the motor finance sector.

“What we're seeing is the ability for FOS decisions to effectively reset regulatory standards,” says Paul. “So firms have to take into account FOS decisions in their own complaint handling process.” That’s easier said than done, given how unpredictable FOS decisions can be, but Adam, Nathan and Paul share some pointers to help firms anticipate where the FOS may stand on certain issues. The trio analyse how the current Ombudsman regime works in practice and consider how it could improve its resolution of financial services complaints and decision-making in future.

To make sure you don’t miss the next episodes in this mini-series, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Welcome to episode three in our mini-series exploring new approaches from financial services regulators in the UK. In this final episode, we discuss the shift in enforcement strategies since new Therese Chambers and Steve Smart took the helm of the Financial Conduct Authority (FCA) last year.

Ashurst colleagues Nathan Willmott, Adam Jamieson and Andrew Sims reflect on the FCA’s more assertive approach, dubbed by Chambers as the ‘bad cop bad cop double act’.

While welcoming the regulator’s intention to speed up investigations and send strong signals to markets and consumers – Nathan, Adam and Andrew take a balanced view, acknowledging some of the downsides to the new approach too. They discuss the implications of the FCA’s focus on criminal actions and prosecutions (notably in the realm of investment fraud) and assess its  ‘portfolio rebalancing’ exercise (reducing the backlog of cases and expediting the enforcement process). The conversation also covers the FCA’s targeting of areas like financial crime, market abuse, operational resilience, consumer duty enforcement action and technology.

To make sure you don’t miss the next episodes in this mini-series, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Employers across the world are stepping up their efforts to prevent, manage and respond to cases of workplace sexual harassment. While the problem is widely acknowledged, individual nations are tackling this in different ways.

Employers need a clear understanding of their reporting obligations so, in this episode, legal experts based in eight countries explain the common and contrasting ways that governments, legislators and regulators are responding. And importantly, the panel explains how employers can take robust action to prevent, manage and respond to cases of sexual harassment.

The discussion demonstrates that it is not enough for organisations to only set up policies, procedures, and training. Employers also need to proactively manage risks and should consider measures such as appointing internal ‘champions’ to share information with employees. And when allegations do arise – thorough and proper investigations should be carried out.

To listen to this – and our previous World @ Work episodes – search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

Welcome to episode two in our mini-series exploring new approaches from financial services regulators in the UK. In this episode, we unpack details of the Early Account Scheme (EAS), which was introduced by the Prudential Regulatory Authority (PRA) in January 2024.

Together, Ashurst colleagues Nathan Willmott, Adam Jamieson and Laura Bell explain how the voluntary scheme enables firms to provide a narrative factual account of issues when a suspected breach is flagged for investigation. Having provided this, firms may later receive a 50% discount on their financial penalty.

Laura highlights some circumstances where the EAS won’t be available and Adam explains that individuals are unlikely to opt for the EAS. On the other hand, he says firms might follow the EAS path because it provides the opportunity to take control of the narrative and present the facts in a way that they think is fair and justified. The trio also point out some of the challenges that firms may encounter during the EAS process.

To make sure you don’t miss the next episodes in this mini-series, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

This episode marks the beginning of a new mini-series exploring new approaches from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). In each episode, we explore concerns about how the regulators are conducting investigations and we suggest what they might do differently to ensure that they act both fairly and effectively.

In episode one, Ashurst colleagues Nathan Willmott, Adam Jamieson and Eleanor Robinson discuss the proposal for the FCA to name and shame firms at the start of investigations, focusing principally on the reactions of industry and politicians to its recent consultation. Together, the trio highlight some unintended consequences and repercussions if the FCA proceeds with this approach, including the potential undermining of consumer trust, along with the difficulties meeting its aspirations for transparency and accountability, and speculate on the likelihood of the FCA doing a u-turn on this aspect of its proposals.

The trio discuss the comments from the House of Lords Financial Services Regulation Committee and the FCA's arguments in response.

Nathan and Adam explore the FCA's motivations for proposing the "naming and shaming" policy and consider the arguments made around consumer protection. Eleanor comments that the FCA are "in between a rock and a hard place" in trying to navigate a position which offers politicians and the public the information on ongoing investigations which they frequently seek, whilst ensuring that the FCA does not put growth and competitiveness of UK at risk through being too transparent about who it is investigating. Adam comments, "I do think that there was a growing momentum around the time that this letter was published that actually perhaps the FCA may change their mind in relation to the proposal. Then when this landed, I think we've seen the press, lawyers, industry bodies all pushing quite hard in unison and believing, in fact, that the FCA may change its position."

To make sure you don’t miss the next episodes in this mini-series, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

When insolvency strikes, the path to resolving conflicts between construction companies and contractors can be much harder to navigate. Adjudication is often seen as a relatively swift and inexpensive route towards resolution – but it does carry some limitations, uncertainty, and risks.

In this episode, Ashurst colleagues Tom Duncan, Dyfan Owen and Stefan Jammes provide a brief overview of adjudication by an insolvent party, and adjudication against an insolvent party. Dyfan explains the challenges posed by insolvency set-off provisions, which have raised doubts about the efficacy of adjudication for insolvent companies. And he discusses the landmark UK Supreme Court case, Bresco v Lonsdale (2020), which affirmed the right of insolvent companies to adjudicate disputes.

Stefan and Dyfan explore the grey areas that surround the enforcement of an adjudicator’s decision in favour of insolvent parties, highlighting the stringent requirements for adequate security and the limited circumstances under which enforcement may occur. They also discuss the feasibility of adjudicating against insolvent parties and reflect on the court’s considerations when lifting the Insolvency Act’s moratorium on legal proceedings. Stefan emphasises that a balance must be struck between creditors’ interests and the insolvency process’s integrity.

To make sure you don’t miss the next episodes in this mini-series, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

In this episode, Tom Duncan is joined by Ben Patton, a partner in Ashurst's construction team specialising in real estate development and investment, and Sadia McEvoy, counsel in the same team. Together, they delve into the complexities of downstream contractor insolvencies and the implications for employers and funders.

With the construction sector grappling with unprecedented challenges, including rising insolvency rates, escalating material prices, and a slowdown in public project delivery, navigating insolvency issues has become more critical than ever. Tom, Ben, and Sadia explore the underlying factors contributing to contractor insolvencies and provide valuable insights into mitigating risks in today's challenging environment.

From understanding the triggers for termination in construction contracts to exploring the nuances of step-in rights and performance guarantees, this episode offers practical guidance for stakeholders in the construction industry. Whether you're a developer, funder, or contractor, this discussion sheds light on effective strategies for safeguarding your interests amidst increasing insolvency risks.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.