Ashurst Legal Outlook Podcast

Ashurst recently brought together key stakeholders from across the data centre ecosystem to explore the many opportunities and challenges in the industry. In this episode, we share the key takeaways about investing in and financing of data centres. 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.See omnystudio.com/listener for privacy information.

Players from across the data centre ecosystem gathered recently to debate everything from planning and power to investment and financing. In this episode, we report on the opportunities and challenges that were identified, and some of the solutions that were uncovered. 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.See omnystudio.com/listener for privacy information.

This episode marks the first in a new Ashurst series on Employment and Safety law developments in Australia. After collaborating on a landmark psychosocial risk court case, Ashurst partner Scarlet Reid and State Chambers barrister Bruce Hodgkinson AM SC reflect on what employers might learn. 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.

In this episode, we report on the changes to the UK’s consumer law regime (made by the Digital Markets, Competition and Consumers Act 2024 (the DMCC Act). With enforcement action expected to ramp up in the UK, we consider how similar approaches have played out in Australia and Italy. 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.See omnystudio.com/listener for privacy information.

The UK’s Competition and Markets Authority (CMA) has begun SMS investigations under its new digital markets regime – with tech giants like Apple and Google already in its sights. 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.See omnystudio.com/listener for privacy information.

An expert panel explains how the corporate sustainability landscape is shifting and what directives in the first EU Omnibus package mean for non-EU business reporting. 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.

In this episode, our special guest is Miles Bake, the former Head of Enforcement at the Bank of England and the Director of Governance at the FCA. In a fascinating discussion, he offers a glimpse into the inner workings of the UK’s financial services regulators. 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.See omnystudio.com/listener for privacy information.

In a bid to root out harm before it occurs, the Financial Conduct Authority (FCA) is stepping up its use of intervention tools as an alternative to formal investigations. 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.

How effective have new Consumer Duty protections been since being introduced by the Financial Conduct Authority (FCA) in 2023? How have financial services firms responded? And what kind of enforcement risks should firms be concerned about? 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.

In this episode, we pinpoint the business trends and legal issues that will shape the UK’s construction landscape in 2025. From challenges and risks to opportunities and innovations, our expert panel covers a range of ground. 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.

Last year, financial services firms were left reeling by the Financial Conduct Authority (FCA)'s transparency proposals (aka "naming and shaming" firms that are under investigation). Since then, the proposals have been amended by way of a second consultation. In today’s episode, we explain what’s changed, what’s been clarified, and what all this could mean for regulated firms and individuals. 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.

Explore the pivotal legal challenges and anticipate risk areas that are set to define the UK real estate disputes in 2025, from sustainability mandates to tenant insolvency and landmark legislative changes. 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.

In this episode, our expert panel weighs up potential changes to the way that the UK's Financial Ombudsman Service resolves customer complaints, with a view to clearing up uncertainty and creating a more consistent framework for firms to follow. 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.

In the wake of the government’s recent infrastructure announcements, we pinpoint the legal issues to watch out for in real estate. 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.

Season 2 of our regulatory enforcement mini-series kicks off by considering what the 2025 priorities are (and should be) for the UK's Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). 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.

In the seventh and final episode for 2024 of our Industrious Conversations series, Ashurst's Ian Humphreys and Peter McNulty explain how Closing the Loopholes changes are shifting the enterprise bargaining landscape under the Fair Work Act. 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.See omnystudio.com/listener for privacy information.

In this episode, we hear from employment lawyers in Australia, Singapore, Indonesia and the UK. Together they describe and compare the industrial relations landscapes in their respective countries – and reflect on what UK employers can learn from these. 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.

Ashurst Employment partners  Stephen Woodbury and Tamara Lutvey discuss the expanded single-interest employer authorisation bargaining stream, also known as multi-employer bargaining. 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.

In the fifth episode of our Industrious Conversations series, Ashurst's Jane Harvey and Elissa Speight explain how Closing The Loophole changes are strengthening protections for workers who are not employees, and extending the scope of the Fair Work Commission to intervene in workforce matters. 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.

Following Ashurst's recent conference, three experts regroup to pick out the most pressing trends and risks stemming from class actions in the UK. 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.See omnystudio.com/listener for privacy information.

In this, the fourth instalment of Industrious Conversations, Ashurst's Jennie Mansfield and Jon Lovell detail the impact of Australia's "Closing the Loophole" industrial relations changes on corporate transactions, offering critical insights into the practical impact of these developments. 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.See omnystudio.com/listener for privacy information.

In the third episode of Industrious Conversations, Ashurst's Talia Firth and Scarlet Reid explain some notable changes to casual employment that stem from recent amendments to the Fair Work Act. These changes include the new definition of a "casual employee" under Section 15A of the Act, new requirements to issue a Casual Employment Information Statement (CEIS) during an employee's employment, and the new casual conversion provisions under the National Employment Standards. 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.See omnystudio.com/listener for privacy information.

Ashurst's Yann Alix is joined by Moroccan lawyer Gahlia Mokhtari and Brazilian lawyer Ana Carolina Calil to discuss the evolving hydrogen strategies, regulations, incentives, and major projects taking place in their respective countries. With Brazil's government getting behind hydrogen, Ana explains new legislation regulating the main guidelines on low carbon and green hydrogen public policy. She highlights opportunities for foreign investors including tax incentives, R&D activity and a solid legal framework – not to mention a sophisticated and attractive energy transmission market. She also flags some challenges to watch out for, including capex, technology and litigation risks. Meanwhile, Ghalia zooms in on Morocco, which is seeking to become a regional hub for green hydrogen through substantial investments in renewable energy sources, notably solar and wind, to achieve energy independence. Ghalia describes Morocco's evolving regulatory landscape and foreign investment incentives, as well as potential barriers and challenges. To view Ashurst's interactive global guide to investing in hydrogen, follow this link. You can subscribe and listen to more episodes of 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.

In the second episode of Industrious Conversations, Employment Partners Julia Sutherland and James Hall discuss strategies for managing protected action ballot orders (PABOs) and protected industrial action (PIA) arising from recent amendments under the Secure Jobs, Better Pay Act. "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.

Imagine living in a country that offers you stunning landscapes, rich culture, delicious cuisine, and a generous tax regime. Sounds too good to be true, doesn't it? Well, not if you choose Italy as your destination. 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.

"We're all learning... new acronyms, new exceptions, how to apply these laws," remarks Employment Partner, Trent Sebbens in this debut episode of the team's Industrious Conversations series. Trent and Employment partner Kathy Srdanovic delve into one of the most significant changes introduced by the Closing Loopholes reforms: Regulated Labour Hire Arrangement Orders (RLHAOs). 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 transactionsSee omnystudio.com/listener for privacy information.

As the frequency and complexity of workplace investigations rises, how can employers enhance their processes to mitigate investigation risk and safeguard their people? This episode considers the challenges of workplace investigations and how companies can respond.  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.

With cyber threats and investigations more prevalent than ever, our expert panel considers how companies can bolster defences, meet regulations, and respond to cyber-attacks. 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.

Welcome to the final episode of our new podcast mini-series, where Ashurst's trainees and junior associates share the influences and factors that have guided them in their careers in commercial law. 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.

Digital companies operate globally which means they need to carefully navigate the new EU and UK digital markets regimes. In this episode, we highlight some of the key similarities and differences between the two regimes. 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.

Welcome to the third episode of our podcast mini-series, where Ashurst's trainees and junior associates share the influences and factors that have guided them in their careers in commercial law. 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.

Welcome to the next episode in our trainee mini-series, where Ashurst's trainees and junior associates share the influences and factors that have guided them in their careers in commercial law. 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.

The Digital Markets, Competition and Consumers Act recently received Royal Assent. So what should businesses be doing to stay informed of the Act's rollout as the Competition and Markets Authority begins its enforcement? 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.

Welcome to our brand-new podcast mini-series where Ashurst's trainees and junior associates share the influences and factors that have guided them on their career journeys. 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.

Ashurst tax experts explore Labour's new tax landscape following their recent UK election victory. 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.

The latest episode of our mini-series on regulatory enforcement weighs up the pros and cons of the Senior Managers and Certification Regime – and pinpoints how to improve it. 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.

This episode answers many of the most pressing Pillar Two questions that investment fund managers are asking. 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.

The latest episode of our mini-series on regulatory enforcement considers the impact of  the UK Financial Conduct Authority's new rules that seek to prevent greenwashing. 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.

In our continuing mini-series on regulatory enforcement of financial services firms, we pick out the issues and tackle the trends to watch - with this episode focusing on the UK Financial Ombudsman Service. 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.

In the final part of our mini-series on regulatory enforcement, we reflect on how the Financial Conduct Authority is progressing under the stewardship of Therese Chambers and Steve Smart. 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.

A snapshot of how employers are managing and responding to cases of workplace sexual harassment in Singapore, Indonesia, France, Spain, Germany, the UK, Australia, and Eastern Europe. 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.

In the second part of our mini-series on regulatory enforcement, we explain how the PRA's Early Account Scheme works, and the factors firms should consider when deciding whether or not to participate. 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.

In the first of a new mini-series on regulatory enforcement, we tackle an issue that is prompting much debate in the UK financial services industry: the FCA's proposal to begin publicly naming firms right at the outset of investigations. 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.

Insolvency adds an extra layer of complexity to disputes between construction companies and contractors. In this episode, we discuss how these may (or may not) be resolved through adjudication. 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.

Join us for the second episode of our series focusing on insolvency issues in the construction sector. Tom Duncan, partner in Ashurst's construction disputes team, leads a discussion on the challenges faced by downstream contractors and strategies for mitigating risks in today's turbulent market. 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.

In this episode, we discuss the legal risks and commercial difficulties for construction contractors who supply services to a company that enters insolvency. Geopolitical turmoil. Inflation. Brexit. A pandemic. Conditions were already complicated enough for contractors before the current spate of insolvencies among UK construction companies. In this episode, we explore the legal and commercial ramifications for contractors who supply services to companies that face insolvency. Ashurst colleagues Tom Duncan, Ru-Woei Foong and Inga West discuss the meaning of “ipso facto” in an insolvency context and, in particular, UK laws which restrict a supplier of goods or services to a company from terminating supply when the company goes into insolvency. They also explain how and when a contractor can protect their position and pursue outstanding payments, and they discuss circumstances that could enable a supplier to terminate the contract. The trio emphasise the importance of contractors engaging early with insolvency practitioners to clarify their position and weigh up their options. And they discuss the Building Safety Act and potential liability in relation to developers and their holding structures – a particularly acute challenge with older or more mature developments. 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 the last episode of this mini-series, the team discuss what the greatest enforcement threats have been across the globe over the past 12 months and what is likely to be the emerging areas of risk corporates must look out for in 2024. In this last installment in our Corporate Crime and Investigations Series, our international panel of experts, led by Ashurst host Ruby Hamid, dissected the most significant enforcement threats that have shaped the global corporate landscape over the past 12 months. From the Netherlands, we heard from Marianne Bloos from the Dutch firm Houthoff, KS Shin brought insights from Korea, Tristan Bramble talks through the U.S experience while Dr Eleanor Robinson shares the UK  perspective. The discussion examines the key questions, including, the greatest enforcement threats for corporates worldwide. Expectations of authorities in various jurisdictions regarding corporates conducting their own internal investigations and self-reporting, and what enforcement risks should corporates be vigilant about as we venture into 2024? Whether you were a compliance professional, legal expert, or simply interested in staying ahead of the curve in regards to corporate enforcement trends, this episode promises valuable insights, recent case studies, regulatory developments, and emerging trends to provide you with a comprehensive understanding of the global enforcement landscape. To stay informed and catch-up on our corporate crime and investigations mini-series subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify, or your preferred podcast platform.See omnystudio.com/listener for privacy information.

Ashurst colleagues Joe Perry-Courtade, Kim Clifford and Alison Hardy provide a snapshot of the trends that will shape the world of real estate disputes this year. In this episode, we take you on a whistle stop tour of the real estate dispute issues that are set to dominate headlines in 2024. In just 13 minutes, Ashurst's Joe Perry-Courtade, Kim Clifford and Alison Hardy cover everything from tenant insolvencies and development disputes, to commercial energy efficiency and upcoming reforms of the Landlord and Tenant Act. The trio begin by discussing rising tenant insolvencies (notably in retail, accommodation, and food) before tackling development disputes and the challenges faced by the construction sector (exacerbated by supply chain issues and escalations in costs, interest rates and inflation). Next, they discuss the mooted reforms of the Landlord and Tenant Act 1954, tackling issues such as security of tenure, notices, and renewal lease terms. The episode wraps up with commercial energy efficiency including the shifting compliance timelines and the risks of stranded assets for landlords who fall short of the new regulations. To make sure you don't miss any episodes of Ashurst Legal Outlook in 2024, subscribe 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.

Demystifying the fast-emerging technologies that are changing the face of corporate crime investigations. It's an exciting time to work in the field of corporate crime investigations and, more broadly, the disputes and contentious matters space. AI, machine learning, data analytics and other emerging technologies are turbo charging our ability to prevent, detect and investigate crime. However, these developments also present several risks and limitations that professionals in the field need to be alert to. In this episode of our mini-series, an expert panel discusses how some of these emerging technologies are being applied in investigations, and how to mitigate the associated risks. Host Adam Jamieson, a partner in Ashurst's Dispute Resolutions team, is joined by Charlotte Miller, Managing Director and Head of Financial Crime Digital at HSBC, along with Ashurst partner and Chief Digital Officer, Tara Waters, and Ashurst Risk Advisory partner and Data Analytics Lead, Matt Worsfold. Together, the panel discusses current uses of generative AI, data security, data integrity, data visualisation, and more – then considers what to expect in the years ahead. Charlotte also explains HSBC's supervised machine learning model that is taking transaction monitoring to the next level by replacing the use of fixed base binary rules with probability and propensity capabilities. To follow this continuing mini-series about 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 the second episode of this mini-series, we tackle sanctions risk – including the robust systems and controls that firms require, recent enforcement actions, guidance from regulators, and unfolding geopolitical issues to watch out for. Hear an international expert panel share invaluable updates for compliance professionals and organisations seeking to mitigate the risks of a sanctions investigation. Ashurst host Tom Cummins is joined by colleagues in Paris (Olivier Dorgans), Tokyo (Alexander Dmitrenko), and London (Sophie Law and Matt Russell). Together, the group outlines the systems and controls that firms require (including comprehensive risk assessments, considering different sanctions regimes, robust screening processes, and staying updated on guidance from regulators). They also highlight recent enforcement activities and the implications for systems, controls, and due diligence. Read our article on the FCA review of sanctions systems and controls.   Geopolitical challenges are considered (such as those involving China, Israel and Russia), amidst heightened scrutiny over transactions in certain sectors and regions. And the panel concludes by looking ahead: discussing the prospects for enforcement and the growing importance of data-driven supervisory assessments and internal audits. To follow this continuing mini-series about 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.

With the UK set to introduce the most significant changes to corporate criminal liability laws for a generation, how can companies prepare? Fraud is a hot topic currently. New technologies and an economic downturn have triggered a huge uptick in these criminal offences worldwide. With new UK legislation in the pipeline to bolster efforts to prevent (and prosecute) corporate fraud, companies are scrambling to prepare. In this podcast episode, we look at the elevated responsibilities, liabilities, and risks for organisations – spanning controls, governance, frameworks, and more. Along the way, we highlight the issues that should be top of mind for various company leaders, including board chairs and directors, senior managers, chief risk officers, audit committees, and general counsels. To tackle these issues, Ashurst's Ruby Hamid is joined by an expert panel of colleagues including Nisha Sanghani, Neil Donovan, Matt Russell and Tom Mercer. This is the first episode in a continuing mini-series about corporate crime and investigations. To make sure you don't miss future episodes, 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.