Ashurst Legal Outlook Podcast

Our continuing series takes an unflinching look at a vexed issue: how much water is required to keep the world’s data centres running. To illustrate this, we put the UK in the spotlight to consider the nation’s rules, regulations, and innovations designed to minimise water consumption in future. 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.See omnystudio.com/listener for privacy information.

Europe’s back leverage market has swelled recently. In this episode we consider the limitations of the label “back leverage”, explain what it covers, why it matters, and where it’s headed. We also offer several practical pointers for structuring transactions effectively. 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.See omnystudio.com/listener for privacy information.

In this episode of Taxed Out, Tax Controversy Partners Vanja Podinic and Colin Little examine YTL and Newmont, the first major Federal Court tests of Division 855 and the principal asset test. Both cases reject the Commissioner’s push for an expansive, physical reading of “real property”, confirming instead that the definition turns on technical legal estates, statutory severance rules and the underlying rights actually held. 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.See omnystudio.com/listener for privacy information.

Welcome to Ahead of the Deal. Each month, we explore the latest news and developments in M&A to help you stay Ahead of the Deal. We cover trends in M&A activity, topical deal issues and changes in the regulatory landscape. 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.

AI is nothing new but everything changed when ChatGPT landed. Now that agentic AI is moving at speed through every economy, it’s incumbent on boards to ensure their organisations can, if not outpace change, then at least try to keep up with it. In this episode, we trace AI’s trajectory – from leaps in technology to regulatory dilemmas – and we flag up issues and actions for directors. 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.See omnystudio.com/listener for privacy information.

For many boards, the era of the passive shareholder register is over. So what should boards do when activists come knocking? Our latest episode suggests some answers. 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.

HM Revenue & Customs (HMRC) is better equipped and more determined than ever to address tax avoidance and evasion. In this episode, we explore what companies need to know when an enquiry notice arrives and how to respond transparently and promptly, without letting things spiral out of control. 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.See omnystudio.com/listener for privacy information.

In this episode of Taxed Out, Vanja Podinic and Colin Little explore why data centre arrangements are attracting intensive and coordinated scrutiny across jurisdictions. They discuss the rise of whole-of-code reviews blending permenant establishment (PE), transfer pricing, intangible licensing and anti-avoidance, and how digitalised business models challenge traditional concepts like “fixed place of business”. 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.See omnystudio.com/listener for privacy information.

The construction phase of wind projects can be fraught with time, cost and quality issues. In this episode, we speak with two industry insiders about some of the common pinch points in the construction of a wind project and explore steps that help minimise the likelihood of contractor/developer disputes occurring. 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.

Cyber readiness is rocketing up the agenda for boards in 2026. We explore cyber readiness including new regulatory developments, trends in cyber threats, and practical defences against attacks. 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.

In this opening episode of Ashurst’s Taxed Out series, partners Vanja Podinic and Colin Little unpack the dominant Australian tax controversy themes from 2025 and what they signal for the year ahead. They explore the ATO’s whole-of-code approach, the escalation of scrutiny on financing and marketing hubs, related-party arrangements and private capital, and the continued interplay between transfer pricing, PE risk, intangibles and anti-avoidance. 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.

2025 followed a year of unprecedented geo-political change. While the markets demonstrated resilience, global tensions, and ongoing conflicts in Europe and in the Middle East continued to have an impact. In the latest podcast the trio describes the trends they are seeing in the market and what to expect in 2026. 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.

Following the Government's recent call for the CMA to help drive economic growth, what developments can we expect to see in UK merger control? 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.See omnystudio.com/listener for privacy information.

Having dissected the latest round of company AGMs at the Ashurst Governance & Compliance (AGC) Conference, our experts regroup to pinpoint the trends that boards and execs should watch out for in 2026. 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.

With more than 500 operational data centres, Germany could be described as the European capital of data centres. But it’s the fit-out and flexibility that will make or break Germany’s data centres aspirations. In this episode, we explore the market in detail and highlight the issues that investors need to know. 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. See omnystudio.com/listener for privacy information.

This is the second instalment in in a two-part series. In episode 1, we discuss current examples of collaborations between traditional finance (TradFi) and digital natives (DeFi), and explore what the future likely holds. 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.See omnystudio.com/listener for privacy information.

In this first episode of Ashurst’s Caught in the Crosswinds podcast series, disputes partner Michael Weatherley is joined by Siemens Gamesa’s Head of Legal for Offshore APAC, Igor Bylinin, and Ashurst energy partner Peter Grayson to unpack why capacity reservation agreements and early works agreements now sit at the heart of major offshore wind projects. 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.See omnystudio.com/listener for privacy information.

In this episode of Ashurst’s Legal Outlook series on data centres, real estate partner Alexandra Peace speaks with Planning, Access and Environment partners Jane Hall (Melbourne) and Rebecca Dixon (Sydney) about why water is fast becoming as strategic as power for Australia’s data centre sector. They explore the current lack of an overarching national strategy, the state-based patchwork in Victoria and New South Wales, and the growing tension between data centre demand, community concerns about water security, and media scrutiny that often focuses on headline peak usage figures. 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.

In this first episode of a two-part series, Ashurst’s Simon Williams is joined by Thomas Hyun, Director of Cryptocurrency Compliance at Forensic Risk, to examine how collaborations between traditional finance (TradFi) and decentralised finance (DeFi) are moving from proof‑of‑concept to business as usual. They discuss current partnership models, compliance and regulatory considerations, and what to expect next. Their conclusion: it’s no longer ‘if’ but ‘when’ and ‘how’—and the pace is accelerating. 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.See omnystudio.com/listener for privacy information.

AI on the In-House Agenda 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.

In the final episode for 2025 in our Industrious Conversations series, Employment partners Talia Firth and Jane Harvey break down the wave of recent Fair Work Commission decisions on flexible work arrangements, and what they mean for Australian employers navigating changing work patterns. 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.

We are pleased to share our latest World@Work global employment podcast on some practical challenges relating to the rapid rise of AI in the workplace. 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.

France has ambitions to become Europe’s AI superpower, leveraging its highly decarbonised electricity grid and government backing to attract billions in data centre investment. In this episode, we explore the market in detail and flag up the issues that investors need to know. 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.

After a run of firm offers in early Summer, the UK public M&A market softened in Q3. Alongside this there was a noticeable increase in lapsed or withdrawn bids. In the latest podcast, the duo unpicks the reasons behind this and whether there has been any fundamental shift in the Panel's approach to conditionality. 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.

Wrapping up this season of Data Bytes, we examine the expanded powers given to the Information Commissioner’s Office (ICO) and what this means for data protection investigations now and in the future. 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.

In this episode, we lift the lid on a fascinating and fast-changing employment issue: the rise of online creators and social media influencers within the workforce, and the legal challenges this presents for employers. 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.

In the penultimate episode of this season of Data Bytes, we look at how digital identity provisions will reshape the world as we know it. Physical ID cards may soon be a thing of the past, and that could have huge implications for society and businesses. 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.

Quantum leaps in technology, as well as rising cost pressures, are prompting many leaders to take a fresh look at how their organisations are structured and resourced. However, restructures and redeployment are notoriously tricky processes to manage well. In this episode, we reflect on lessons learned from the High Court’s recent Helensburgh Coal vs Bartley decision. 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.

Our globetrotting podcast mini-series pays a visit to India, to take in the data centre landscape there. In less than 25 minutes, we highlight the market dynamics, trends, policymaking, infrastructure, and incentives that investors need to be across in this fast-growing market. 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.

In this episode, we explain how the Data (Use and Access) Act changes marketing practices and the use of cookies in the UK. 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.

In this episode we delve further into the UK’s Data (Use and Access) Act – this time exploring how the Act will impact organisations developing and deploying artificial intelligence (AI). 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.

In this episode in our Industrious Conversations series, Partner Tamara Lutvey is joined by Mackenzie Small, Relationship Manager at the Australian Disability Network, to explore how organisations can better accommodate neurodivergent employees in workplace investigations. 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.

In this episode we take a closer look at how the UK’s new Data (Use and Access) Act will regulate non-personal data, in particular through the framework for smart data schemes. 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.

In this second episode of the series, Ashurst colleagues James Fletcher, Harry Thimont and Jade Jack review the year to date and the ongoing impact that geopolitics is having on the public markets. 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.

The UK government has launched three consultations to shape its new sustainability reporting framework, while a new private share trading platform 'PISCES' offers companies an alternative route to liquidity for private companies. 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.

The UK’s Data (Use and Access) Act is now law, and it brings targeted but important shifts in data protection, enforcement and digital regulation that every organisation needs to track. 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.

From Riyadh and Abu Dhabi to Dubai and Jeddah, the Middle East has emerged as a global hotspot for data centre development. In this episode, we assess the investment opportunities and highlight trends to watch out for. 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.

In this episode of Ashurst Legal Outlook, Employment partner Jennie Mansfield, is joined by Digital Economy partner Geoff McGrath, to unpack the introduction of a new statutory tort for serious invasions of privacy in Australia. This major legal development, effective from 11 June 2025, brings a new right of action for individuals and significant new compliance responsibilities for employers. 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.

The past 18 months have seen major changes to the corporate criminal landscape in the UK and, with enforcement ramping up, companies need to act. In this episode, we recap the main changes, highlight some pressing compliance deadlines, and suggest how companies might best respond. 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.

With its new carried interest regime offering a 50% tax rebate, Spain is making a bold play for private equity talent. Clearer rules, competitive rates, and a lifestyle that blends world-class cuisine, culture, and climate are turning heads, and portfolios, toward the Iberian Peninsula. 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.

Many companies are adapting their governance and reporting processes in response to the UK’s new Cyber Governance Code of Practice. In this episode, we explain some of the main implications for board directors and in-house legal teams. 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.

In this episode of Industrious Conversations, Ashurst Employment partners, Kathy Srdanovic and Jon Lovell, discuss the implications of the recent federal election for Australian employers in industrial relations. Together, they pinpoint the issues to watch out for including: 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.

In the latest episode of our World@Work series, we discuss several nations’ contrasting approaches to workplace investigations relating to whistleblower reports and sexual harassment issues. 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.

With investor interest rising by the day, our latest podcast explores the data centre market in Spain. This wide-ranging discussion covers everything from finance structuring to lease agreements, and from zoning challenges to power connection issues. 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 the wake of corporate scandals, Provision 29 of the UK Corporate Governance Code has been revamped with implications for risk management and internal controls in many UK companies. With new rules set to apply for financial periods beginning on or after 1 January 2026, this podcast looks at how companies can prepare. 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.

In this first episode of the series, Ashurst colleagues Tom Mercer, Harry Thimont and Jade Jack endeavour to unpick the year to date and the impact that geopolitical upheaval has had on the public markets. The tumultuous start to the year has seen significant market volatility and the trio describe how this has affected, and how they expect it will continue to affect, UK public M&A. 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.See omnystudio.com/listener for privacy information.

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.