The Freshfields Podcast: Recent Episodes
Freshfields Bruckhaus Deringer
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In episode four of the Eureka series, Former SEC Director of CorpFin and Freshfields partner Erik Gerding is joined by partners Leza Bieber, Heather Brookfield and Sarah Ghulamhussain who unpack the trends this Proxy Season, including:
- What we are seeing in terms of shareholder proposals, management proposals and early voting results including trends in ISS and Glass Lewis voting recommendations
- What’s been going on with Say-on-Pay
- Trendlines in 14a-8 shareholder proposals
- Shifts in the balance of power between the different players in the shareholder ecosystem
- New scrutiny of DEI and ESG issues and reactions to SEC staff interpretations on the dividing line between 13D and 13G filings
- Concerns around disclosing executive security as a perk following the murder of the United Healthcare CEO, and what the Commission can be doing to modernize its approach to detailed disclosure
In this episode of the Eureka series, partners and former senior SEC officials Melissa Hodgman and Erik Gerding share insider perspectives on what to expect from SEC enforcement, including:
- Direction of travel for key areas such as crypto, fraud, individual liability, China, ESG and insider trading
- Insights into personnel and priorities changes at the agency and what this means for enforcement
- Advice for Boards, executives and in-house counsel on how to manage the swirling currents of the new SEC leadership
The second Trump administration has made numerous announcements on trade and tariffs, but US tax policy is increasingly woven into the discussion on international trade. This includes the possibility of retaliatory US action against “discriminatory or extraterritorial taxes” imposed by other countries.
The US House Budget Reconciliation Bill, officially titled the “One Big Beautiful Bill Act", was recently passed by the House of Representatives and includes retaliatory US tax measures in response to “unfair foreign taxes” - with digital services taxes (DSTs) and the undertaxed profits rule (UTPR) of the Pillar 2 global minimum tax regime expressly identified as falling in this category.
In our latest podcast US tax expert Claude Stansbury, UK tax expert Emily Szasz and international trade expert Lorand Bartels join Josh Critchlow to discuss the latest on this intersection of US tax and trade policy, including:
- details of the measures in new proposed section 899 of the US tax code (including increased withholding tax rates), the impact the measures could have on multinational groups with US operations, the interaction of section 899 with double tax treaties, and when these measures could take effect;
- a deeper dive into the taxes considered to be "unfair foreign taxes" and which countries may be in-scope of proposed section 899;
- previous use of US trade measures in response to tax rules imposed by other countries and how the proposed retaliatory tax measures fit into the rapidly evolving international trade landscape; and
- possible next steps, including:
- what actions may be taken at an OECD/EU level to address US concerns in respect of the identified "unfair" taxes; and
- whether proposed section 899 could itself be subject to challenge under trade laws.
Note: this podcast was recorded on 30 May 2025 and does not cover developments after this date.
Listen to the latest episode of our MedTech podcast featuring host Vinita Kailasanath and guest Alya Sulaiman, Chief Compliance and Privacy Officer at Datavant. Vinita and Alya discuss Alya’s unique career path, how AI and machine learning will impact the US’ regulatory landscape, deploying AI in healthcare, and MedTech innovations to watch.
On 8 May 2025, the European Commission launched a public consultation to review the Merger Guidelines. In this episode, our host Jenn Mellott speaks with Daniele Calisti, Head of the Mergers Case Support and Policy Unit at DG Competition, who is leading the consultation process. They are joined by David Foster, Director at Frontier Economics, and fellow antitrust partner Thomas Janssens, to explore what changes may be coming – particularly around efficiencies and innovation.
While much of what the Commission sets out in the papers released alongside the consultation appears to formalise existing practice, some elements go further and are more novel (e.g., the effects on labour market, economic resilience, environmental sustainability, and broader societal impact of mergers). If the promises of the Draghi Report on innovation and growth in Europe are to be given some weight, the new guidelines should provide clear and explicit direction – particularly in articulating how they envisage a more open and flexible approach to parties demonstrating procompetitive efficiencies.
In the podcast, Daniele Calisti highlights two areas where the Commission is particularly keen to receive feedback—drawing on available economic evidence and real-world experience across industries—on how to assess efficiencies. The first is the idea that efficiencies may be more likely to arise when the merging firms’ activities are complementary. The second relates to the challenge of evaluating asymmetries between alleged harm and claimed efficiencies, including differences in how and when they materialise.
For more on the Commission’s evolving thinking you can read our recent blog: Time to catch up: EU reopens the rulebook on mergers and seeks feedback. Please feel free to reach out to your regular Freshfields contacts if you’d like to contribute to the consultation.
Tune in to the latest episode of our EUnpacked podcastseries in which we try to untangle the famous or rather infamous ‘Omnibus I’ package unveiled by the European Commission on 26 February this year. The proposal aims to simplify ESG reporting and due diligence obligations, responding to new political and geopolitical imperatives pushing a simplification and burden-reduction drive to boost the EU’s competitiveness. Podcast host and Head of the Freshfields EU Regulatory & Public Affairs Team Natalie Pettinger Kearney is joined by Léa Bareil, ESG lead in the Brussels public affairs team together with Juliane Hilf and Vanessa Jakovich, both partners in the firm’s leading ESG regulatory practice.
In our latest podcast episode of "No Worse Off," Freshfields partners Emma Gateaud and Craig Montgomery are joined by two industry experts for an in-depth discussion on motor finance claims and consumer redress restructuring.
Drawing on our extensive experience in recent consumer redress restructurings, we consider the potential impact of the upcoming Supreme Court Judgment on motor finance commissions. Our guests, Sheraz Afzal (Chief Legal Risk & Compliance Officer at Quint Group Ltd) and Jamie Drummond-Smith (Independent director, adjudicator and creditor representative), share their frontline experience in these restructurings, offering valuable insights from recent cases in the consumer finance sector.
Stay tuned for more insights into the world of restructuring in 2025, and thank you for listening to "No Worse Off"
In this episode of our Securing the Digital Future podcast series, Freshfields partner Rachael Annear talks with June Lowry and Athina Tsitsou, from the European Commission, about measures in the EU aimed at children’s online safety as well as broader initiatives around accessibility.
In episode two of the Eureka series, Former Director of CorpFin at the SEC and Freshfields partner Erik Gerding and Freshfields partners Calise Cheng and Jacqueline Marino explore IPOs in the face of uncertainty, including alternative paths to capital and liquidity. They discuss:
- The state of the market and what the SEC might do to help
- Alternative paths for companies seeking capital and liquidity
- What to do with your registration statement if you have already confidentially submitted
- How to get ready for an IPO when the goalpost has moved
In this episode of the Eureka series, Former Director of CorpFin at the SEC and Freshfields partner Erik Gerding and Freshfields partners Pamela Marcogliese and Leza Bieber discuss how to think about disclosures and governance during a trade war, including:
- What to do about guidance and meaningful cautionary language under extreme uncertainty?
- How is this situation similar to COVID and the Russia/Ukraine war and how are they different?
- How should Boards be thinking about and responding?
- The importance of having a good process and making decisions aligned with your strategic vision
As part of his predictions for 2025, Ethan Klingsberg focused on the expected dominance of the fund secondaries market. Listen in as he speaks with Private Funds and Secondaries partner Ivet Bell about the phenomenal rise of these transactions—including market drivers, key terms, impact on the market, and where secondaries growth may be headed in both up and down markets.
On 6 April 2025, key consumer protection provisions set out in the landmark UK Digital Markets, Competition and Consumers Act (DMCCA) entered into force.
In addition to introducing some significant substantive changes to the law, the DMCCA provides the CMA with powers to directly enforce consumer protection law for the first time, and the ability to fine businesses up to 10% of global turnover for infringements.
In this edition of the Essential Antitrust podcast, host Jenn Mellott is joined by consumer protection law partner Andrew Austin, antitrust partner Rikki Haria and disputes senior associate Kate Collister to discuss these changes, the CMA’s enforcement priorities, and what businesses should be doing now and over the months ahead.
For more detail, you can read our recent blogs on the new provisions and the CMA’s enforcement priorities.
You can also subscribe to our DMCCA client toolkit for further insights and information, updated on a rolling basis to ensure you have the most current and relevant information to navigate the new regulatory landscape.
In our latest "No Worse Off" podcast episode, Freshfields partner Lindsay Hingston and Tabasam Faqir, Head of Restructuring and Capital Solutions for MENA, welcome special guest Naveen Sabharwal, Managing Director at Davidson Kempner. Together, they explore the key themes shaping the restructuring landscape in the Middle East.
Drawing on their extensive market experience, they examine the evolving legal regime and market landscape in the region, including landmark court processes, private credit opportunities and the emergence of non-performing loan portfolio sales.
Stay tuned for more insights into the world of restructuring in 2025, and thank you for listening to "No Worse Off.
Join Nathalie Kupfer and Rosie Jiang as they sit down with Val Jacob to explore her remarkable career in the legal industry. With decades of experience in Big Law, Val has navigated the complexities of the legal world and emerged as a respected leader. In this episode, Val will share her journey, from her early days as a young attorney to her rise through the ranks.
In this episode of our Securing the Digital Future podcast series, partner Rachael Annear is joined by Lorna Christie from the UK’s data regulator, the Information Commissioner's Office (ICO), to discuss how the ICO is collaborating with Ofcom to ensure a coherent approach to regulation where online safety and data protection intersect.
As you may already know, our three new London Private Credit and Capital Solutions partners joined us last month. We are very excited to introduce you to them in the latest episode of our “No Worse Off” Podcast series!
Paul, Mark and Nick tell us about their practice, what Private Credit and Capital Solutions really means, as well as revealing a few interesting facts about themselves!
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As the world intensifies its efforts toward Net Zero, Asia stands at the forefront of the global energy transition, representing half of global energy demand and emissions. With heavy dependence on fossil fuels across most large Asian economies, the path to Net Zero will be both challenging and full of opportunities for forward-thinking companies.
In this episode, Ninette Dodoo is discussing the emerging trends in Asia’s energy transition journey with Asia M&A partners Philip Morgan and Gordon Palmquist, as well as Jake Reynolds, the firm’s head of client sustainability and environment. Join us as we explore how corporate leaders can navigate risks and seize opportunities in Asia’s evolving energy landscape.
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In our latest podcast episode of Securing the Digital Future, Freshfields partner Rachael Annear is joined by Suzanne Cater and Amy Jordan from the UK’s communications regulator, Ofcom, for an in-depth look at how online safety legislation is being applied in the UK and what businesses and organizations need to know.
In this episode of our MedTech podcast series, partner Vinita Kailasanath sits down with Nada Hanafi, Co-founder of MedTech Color, to discuss Nada’s career, how diversity impacts the MedTech industry, and advice for future MedTech leaders.
Join partners Lindsay Hingston, Jonathan Kelly, and associate Madeleine Wall in our first "No Worse Off" episode of 2025.
In this episode, they explore the intersection between international sanctions and restructuring and insolvency, covering UK and EU developments while providing practical guidance on implementing restructuring solutions within sanctions frameworks.
Stay tuned for more insights into the world of restructuring, and thank you for listening to "No Worse Off."
The recent and upcoming changes to the heads of key antitrust agencies, and in particular the Chair of the UK Competition and Markets Authority, may signal a shift in approach to merger control.
In our latest Essential Antitrust podcast, our host Jenn Mellot is joined by fellow partners Thomas Janssens, Martin McElwee and Colin Raftery to discuss how this and other recent developments will affect deals going forward.
The transitions taking place across agency leadership will maintain competition law and policy at the forefront of regulatory developments in 2025. In particular, antitrust policy will be shaped by political influences and growing pressure to consider domestic growth, security and economic resilience concerns, alongside other industrial policy goals.
In our latest Essential Antitrust podcast, our host Jenn Mellot is joined by fellow partners Alastair Chapman, Ilka Oberländer, and Kaori Yamada to explore navigating the key developments in global antitrust.
In our latest podcast episode of Securing the Digital Future, Freshfields partner Rachael Annear is joined by Michelle Ramsden from the US Department of Justice for an overview of the status of online safety regulation in the US. They discuss the complex patchwork of laws and regulations at both the state and federal levels, as well as how civil liberties and freedom of expression are impacting the development of online safety legislation.
In this episode of the MedTech podcast, Freshfields partner Vinita Kailasanath and Cimbal Capital Group principal Derek Underwood talk about his experience at the intersection of life sciences and tech, developing trends, and innovation in the space.
In the latest episode of "No Worse Off," hosts Lindsay Hingston and Emma Gateaud review 2024's key legal headlines. This year-end special showcases legal milestones, team achievements, and landmark events that have transformed the restructuring landscape throughout the year.
Stay tuned for more insights into the world of restructuring in 2025, and thank you for listening to "No Worse Off."
In this podcast series, the Freshfields People & Reward team discusses key topics in the executive reward space for publicly listed and private companies, including considerations for remuneration committees, transatlantic regulatory concerns, and the structure of specific incentive arrangements.
In the fourth episode of this series, Applying Malus and Clawback in practice, partners Alice Greenwell and David Mendel discuss the ‘pointy end’ of malus and clawback – what happens when companies want to use malus and clawback, and how to address the employment and other legal issues that may arise.
On 01 December 2024 the new European Commissioner for Competition Teresa Ribera took office. A refreshed approach to competition policy has been tasked to her by President Ursula von der Leyen including tackling killer acquisitions, speeding up state aid and antitrust enforcement as well as a new approach to mergers that could help to boost the EU’s competitiveness.
In this edition of the Essential Antitrust podcast, host Jenn Mellott is joined by fellow antitrust partners Meghan Rissmiller and Andreas von Bonin, as well as Natalie Pettinger Kearney, Head of EU Regulatory & Public Affairs, to discuss the next five years is likely to hold in terms of competition enforcement and policy.
Changes at the U.S. Securities and Exchange Commission (“SEC”) resulting from the 2024 election will have significant implications for the private funds industry.
Tim Clark, Freshfields’ Global Co-Head of Private Funds and Secondaries, and David Nicolardi, a counsel at Freshfields and former SEC Branch Chief, discuss the expected impacts on SEC regulation, exams, and enforcement priorities related to private funds.
Tim and David explore, among other issues, the Marketing Rule, ESG and DEI, and regulatory challenges posed by the growth of Artificial Intelligence (“AI”).
In our latest podcast episode of "No Worse Off," Freshfields partner Craig Montgomery is joined by colleagues Madlyn Primoff from New York, Kristina Weiler from Hamburg, and Mijke Sinninghe Damsté from Amsterdam for an in-depth look at how litigation risk impacts restructurings from start to finish.
They delve into the complexities that arise in cross-border multi-process restructurings, focusing on key themes such as the role of expert evidence, privilege and discovery issues, and the timing of challenges across different jurisdictions.
Stay tuned for valuable insights into anticipating and managing litigation risks throughout the restructuring process, and thank you for listening to "No Worse Off."
The UK Chancellor of the Exchequer, Rachel Reeves, has delivered the Autumn Budget 2024.
In the first Budget delivered by the Labour Party since 2010, Reeves announced an extensive array of tax reforms designed to 'stabilise' public finances and facilitate increased government spending. Altogether, tax rises totalling £40 billion were announced - some expected, others less so.
In our latest podcast Peter Clements, Sarah Bond, Rose Swaffield, Josh Critchlow and Chris Gotch from our London tax team discuss the tax measures they found the most noteworthy in the Autumn Budget 2024, including:
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Headline Budget announcements, including:
- increases in the capital gains tax (CGT) main rates and reforms to business asset disposal relief and investors' relief, accompanied by anti-forestalling measures;
- an increase in employer National Insurance contributions by 1.2% from April 2025; and
- an increase in the CGT rates for carried interest from April 2025, with more significant reforms expected to follow;
- Publication of the Corporate Tax Roadmap designed to provide stability for businesses and foster inward investment, including:
- capping the headline UK corporation tax rate at 25%;
- confirmation the permanent 'full expensing' capital allowance regime and existing R&D reliefs will be retained; and
- plans to provide increased tax certainty to investors in major projects;
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Measures designed to 'close the tax gap', including:
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an increase in the interest rate for unpaid tax;
- targeted anti-avoidance measures applying with immediate effect; and
- the recruitment of additional HMRC compliance and debt management staff; and
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Other changes to the UK's tax code, including:
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confirmation the UK will introduce the Pillar Two undertaxed profits rule (the 'UTPR') for accounting periods from January 2025, along with the related repeal of the offshore receipts in respect of intangible property (or 'ORIP') rules;
- the replacement of the remittance basis of taxation for non-UK domiciled individuals ('non-doms') with a new residence-based regime; and
- confirmation of increases to the rate and duration of the Energy Profits Levy and the removal of the associated investment allowance.
On October 10, 2024 the US Federal Trade Commission (FTC) and the US Department of Justice (DOJ) issued a final rulemaking implementing the most significant update ever to the US HSR merger control filing. While these changes won’t be effective until the end of January 2025 at the earliest, understanding now how tackle new features such as expanded document requirements and new substantive narratives will position companies and dealmakers alike to hit the ground running.
In this edition of the Essential Antitrust podcast, host Jenn Mellott is joined by fellow antitrust partners Mary Lehner and Bruce McCulloch, as well as Sebastian Fain, Global Transactions partner, to discuss the key changes that parties will have to contend with starting in early 2025.
In our latest podcast episode, Freshfields partner Lindsay Hingston and Senior Associate Alex Thomson are joined by Georgina Peters, Barrister at South Square, for a further look at of Liability Management Exercises (LMEs).
They examine how LMEs might be shaped by different legal regimes, with a particular focus on potential issues under English law.
Stay tuned for more insights into the world of restructuring and thank you for listening to “No Worse Off”.
As we enter the final stretch of the set up of a new European College of Commissioners, tune into our latest EUnpacked podcast to hear insights from our policy team on the ground in Brussels. Together they discuss what the new Commission structure reveals about what lies ahead, who are likely to be the big personalities driving forward policy and legislation, and what steps remain to be taken before they take office later this year.
Over the past few years, the function and scope of private credit within financial markets has increased greatly. As private credit funds play a greater role in activities traditionally undertaken by banks, they are attracting growing scrutiny from both regulators and governments who are concerned about heightened risks to the financial system.
In this special podcast, a selection of senior Freshfields lawyers from different jurisdictions explore the increasing regulatory scrutiny of private credit across the world. Matt O'Callaghan, a partner in the firm’s Hong Kong office and head of the financial services regulatory team in Asia, hosts an insightful discussion featuring Nariné Atamian from Freshfields in New York, Greg King in London, and Theresa Kreft in Munich, in which they look beyond the headlines and share their perspectives on the changing regulatory landscape.
In our latest podcast episode, Freshfields partner Lindsay Hingston hosts a candid discussion on the subject of women in restructuring, featuring Katharina Crinson, counsel at Freshfields, and Jo Hewitt, managing director at Alvarez & Marsal.
Drawing on personal experience as well as insights from Katharina and Jo’s former and current leadership roles for the London chapter of the International Women's Insolvency and Restructuring Confederation (IWIRC London), they explore their career journeys in a field where women are still under-represented, the importance of gender diversity, and strategies for promoting an inclusive industry.
Stay tuned for more insights into the world of restructuring and thank you for listening to “No Worse Off”.
The sixth episode of our restructuring podcast series, No Worse Off, which provides legal and commercial insights, and practical tips, on the world of restructuring.
Liability management has become a key strategy in the US distressed markets as the restructuring community seeks alternatives to bankruptcy. These transactions can enhance liquidity, restructure debts, and extend runway via an out-of-court process.
In this episode, we are bringing together our experts from our London, New York and Hong Kong offices to discuss the nuances of liability management, the opportunities it presents for creditors, and its potential for growth in European and Asian markets.
Stay tuned for more valuable discussions and expert advice in the upcoming episodes of “No Worse Off”.
Two years have elapsed since the introduction of new vertical block exemptions and guidelines in the EU and the UK. Since then, the European Commission has imposed the highest record fine on file for unlawful territorial restrictions imposed by a supplier on its resellers, in contravention of EU competition law. On the opposite side of the Atlantic, key developments in the US include increased enforcement of vertical restraints by US antitrust agencies.
In this episode of our Essential Antitrust podcast, host Jenn Mellott is joined by fellow antitrust partners Charlotte Colin-Dubuisson, Meghan Rissmiller and Al Mordaunt to discuss recent enforcement trends in the EU, the UK, the US and Asia.
The healthcare industry is one of the most vulnerable sectors to cybersecurity risk. In this episode of the MedTech podcast, Freshfields partners Vinita Kailasanath and Brock Dahl explore some recent examples of credible threats to the industry and how companies can implement technological innovation to help mitigate these risks.
In this second episode of our EUnpacked podcast series that looks at key hot topics being tackled in Brussels, podcast host Natalie Pettinger Kearney is joined by her colleagues Léa Bareil and Victor Garcia Lopez to talk about the EU elections and what it means in terms of the outlook for business.
The fifth episode of our restructuring podcast series, No Worse Off, which provides legal and commercial insights, and practical tips, on the world of restructuring.
The cross-border restructuring landscape has transformed in recent years, with the introduction of the UK restructuring plan and the arrival of similar, Chapter-11 inspired processes in jurisdictions across Europe. This has driven a rise in cross-border restructurings which use processes in multiple jurisdictions to deliver the restructuring – as in the recent Cimolai, Vroon and McDermott restructurings.
In this episode, we are bringing together a panel of our experts from across Europe and the US to discuss the rise of these multi-process restructurings. The panel will explore both the opportunities these multi-process restructurings present to deliver restructurings that otherwise would not be possible, and the complexities and pitfalls to watch out for.
Two former CFIUS Chairs discuss Treasury’s recently released draft rules and impending U.S. capital controls.
In this episode of our Essential Antitrust podcast, host Jenn Mellott is joined by Freshfields’ Aimen Mir and Brian Reissaus to analyze some breaking news out of the U.S. Department of the Treasury: draft rules operationalizing controls on outbound investment. Though targeted at China, the rules generate new risks and potential consequences for U.S. investments in Chinese companies or in companies and funds that themselves have operations or investments in China.
The geopolitical climate involving the US-China relationship has created opportunities in Southeast Asia, leading many businesses to look to Southeast Asia for growth. The region’s GDP growth is forecasted to reach 4.6% in 2024 and 4.7% in 2025, and businesses are keen to capitalise on its growth potential.
In this episode, Ninette Dodoo, an antitrust partner in our Asia antitrust practices, discusses the opportunities and challenges in Southeast Asia with partners from our Singapore office - Simon Weller, Jon Bowden and Samantha Tan - and Eric Johnson, a partner based in Vietnam. Join our panellists for some on the ground insights on recent legal and business trends in the region, including in disputes and arbitration.
Keeping you up to date on executive compensation matters.
In this podcast series, the Freshfields People & Reward team discusses key topics in the executive reward space for publicly listed and private companies in 2024, including considerations for remuneration committees, transatlantic regulatory concerns, and the structure of specific incentive arrangements.
In the third episode of this series, Next Stop: CSOP, partner David Mendel and senior associate Nicola Jones cover all things related to tax favoured company share option plans, also known as CSOPs. David and Nicola discuss the recently increased flexibility of these share plans, and their attractiveness to companies, including in the private capital space, who are looking to incentivise key employees in their workforce.
Keeping you up to date on executive compensation matters.
In this podcast series, the Freshfields People & Reward team discusses key topics in the executive reward space for publicly listed and private companies in 2024, including considerations for remuneration committees, transatlantic regulatory concerns, and the structure of specific incentive arrangements.
In the second episode of this series, Remuneration vs Compensation – the Transatlantic Pay Debate, partner Alice Greenwell and senior associate Regina Erie discuss transatlantic reward issues and the ongoing debate about UK versus US pay practices. Alice and Regina cover topics beyond the perceived difference in executive pay levels between the UK and the US, including structural variations between the two jurisdictions in regards to tax and compensation.
In this special episode, Emma Gateaud is joined by Head of London Restructuring Richard Tett as he marks his 20th anniversary as a partner and his 30th anniversary at the firm. They discuss Richard’s life in restructuring, including his role models and career highlights, and how the market has changed over the decades.
On 25 April 2024, the UK Competition and Markets Authority (CMA) published a suite of reforms to the way in which it carries out Phase 2 merger investigations. Intended to streamline in-depth reviews, improve opportunities to engage with the CMA throughout the process and incentivise merging parties to put forward remedies at the earliest possible stage, the reforms came into effect immediately.
In this episode of our Essential Antitrust podcast, host Jenn Mellott is joined by fellow antitrust partner Colin Raftery, former Senior Director of Mergers at the CMA, to discuss the changes and what they mean for deals facing in-depth scrutiny in the UK.
In this episode, Craig Montgomery and Emma Gateaud are once again joined by Tom Smith KC, to continue their discussion on UK restructuring plans. They discuss the concept of the Relevant Alternative, when is the best time for a company to present a plan and the availability of new European tools for restructurings.
The second episode of our restructuring podcast series, No Worse Off, which provides legal and commercial insights, and practical tips, on the world of restructuring.
In this episode, Craig Montgomery and Emma Gateaud are joined by Tom Smith KC, to discuss some of the recent high profile challenges in restructuring plans and what we can learn from these to shape future plans.
In this podcast series, the Freshfields People & Reward team discusses key topics in the executive reward space for publicly listed and private companies in 2024, including considerations for remuneration committees, transatlantic regulatory concerns, and the structure of specific incentive arrangements.
In the first episode of this series, Being prepared for the (not so) unexpected: planning for executive exits, partners Alice Greenwell and David Mendel sit down to discuss the essential considerations for remuneration committees when an executive is leaving the company. Alice and David cover exit packages and the restrictions on publicly listed companies, as well as other tricky topics for companies to be aware of.
The UK Chancellor of the Exchequer, Jeremy Hunt, has delivered the Spring Budget 2024.
In a rowdy House of Commons, the Chancellor delivered what will be his last Spring Budget before a UK general election widely expected to take place in autumn this year. Further details on some of these measures are expected to follow on Tax Administration and Maintenance Day 2024 – confirmed as taking place on 18 April – but there were plenty of interesting points (and politics) in the tax policies included in this wave of announcements.
In our latest podcast Jill Gatehouse, Emily Szasz, Josh Critchlow and David Haughey from our London tax team discuss some of the tax measures they found the most noteworthy in the Spring Budget 2024, including:
- Replacing the current tax rules for non-UK domiciled individuals (so-called ‘non doms’) with a new residence-based regime;
- Changes to the transfer of assets abroad rules following the Supreme Court decision in Fisher to ensure this anti-avoidance regime cannot be bypassed by individuals transferring assets offshore via a UK company;
- The introduction of Reserved Investor Funds (RIFs), a new type of UK investment fund in the form of an unauthorised contractual scheme; and
- Other changes to the UK’s tax code, including:
- Further reductions to NICs, benefitting both employed and self-employed workers;
- On stamp duty/SDRT, new guidance on recently-enacted legislation restricting the application of the higher rate charge on the issue and certain transfers of UK shares and securities into clearance services or depositary receipt systems – but nothing further on the Stamp Taxes on Shares Modernisation proposal;
- Delaying the sunsetting of the Energy Profits Levy, so that it will end in 2029 (or earlier if energy prices fall below levels set by the previously-announced Energy Security Investment Mechanism);
- Establishing a new R&D tax relief expert panel tasked with ensuring relevant HMRC guidance remains up-to-date as industry develops; and
- Consulting on the introduction a new UK ISA, giving individuals a £5,000 annual allowance to invest in certain UK-focussed assets on a tax-free basis.
The first episode of our new restructuring podcast series, No Worse Off, which provides legal and commercial insights, and practical tips, on the world of restructuring.
Podcast hosts Lindsay Hingston, and Emma Gateaud, in our London office, cover recent trends including the looming wall of debt maturities, liability management, contested restructuring plans and the increasing use of parallel/interlocking processes in a cross-border context.
In January 2024, China implemented significant changes to its merger control thresholds – marking the first revisions in 16 years. Coupled with last year's amendments to the Anti-Monopoly Law, they represent a comprehensive revamp of China’s merger control regime.
In this episode of our Essential Antitrust podcast, host Jenn Mellott is joined by Freshfields’ Ninette Dodoo and Laurent Bougard and RuiMin’s Hazel Yin to examine these changes and their impact on filing deals for regulatory clearance in China. Their discussion features critical insights into navigating the merger control process as well as addressing sectors at risk of increased scrutiny and underscoring broader regulatory issues, including national security reviews.
Listen to the latest episode of the Freshfields MedTech podcast as partner Vinita Kailasanath and Managing Director of Ivy Tree Advisors, Jonathan Olsen, discuss key MedTech hot topics coming out of this year’s J.P. Morgan Healthcare Conference.
In our first Essential Antitrust podcast of 2024, host Jenn Mellott is joined by Alastair Chapman, Ninette Dodoo and Mark Sansom to explore some of the themes highlighted in “Global antitrust in 2024: 10 key themes”, our recent report on the biggest trends in antitrust for the year ahead.
With insights from the US, UK, EU and Asia, we predict how antitrust will continue to be used as a wide-ranging tool in 2024 – from aggressive enforcement targeted at digital markets and AI to novel theories of harm in M&A, and from risks and opportunities at the intersection of antitrust and sustainability to the expansive use of abuse and monopolization claims in antitrust damages actions to pursue general consumer or unfair competition issues.
Businesses that want to stay one step ahead will need a global strategy to navigate these evolving and dynamic challenges.
Boris Feldman, Freshfields Partner, interviews two of the most prominent pioneers of technology - Vinton G. Cerf, one of the ‘fathers of the internet’ and Whitfield Diffie, a leading inventor of public-key cryptography. Listen in for a fascinating discussion on the origin of technologies that have changed the course of history, and predictions for how technology will continue to change our futures.
In this episode in our Essential Antitrust Asia, Laurent Bougard speaks to Bilal Anwari and Gustaaf Reerink from ABNR Law in Indonesia, which is part of Freshfields’ StrongerTogether network. Together, they explore the evolving landscape of Indonesia's updated merger control regime, highlighting opportunities and potential pitfalls for foreign investors. This discussion will shed light on enforcement trends, potential challenges in dealing with the local regulator, and strategic insights crucial to navigating the Indonesian regulatory landscape.
President Biden’s Executive Order 14105 on outbound investment restrictions is expected to take effect in 2024. While this policy may not be the sweeping “reverse CFIUS” regime that many in industry anticipated and feared, it nonetheless represents a disruptive shift in investment dynamics for Asian and US investors.
In this podcast, Ninette Dodoo is joined by Arun Balasubramanian, Aimen Mir, Alan Wang and Jonathan Zhou to discuss the nuances of this policy shift and the implications on investment strategies for Asian and US investors. They explore the strategic decisions businesses are taking to adapt to the evolving regulatory landscape when pursuing new opportunities and as they seek to thrive in an increasingly complex global investment environment.
Back in October, the global Freshfields Tax team published the Tax investigations and disputes across borders guide which, among other things, provided an overview of current trends in corporate tax disputes and gave some predictions for the future.
In our latest podcast, London Tax partner Sarah Bond, Düsseldorf Tax partner Philipp Redeker and London Tax knowledge lawyer Laura Western explore these points in more detail, including:
- The increased scrutiny of cross-border structures and arrangements, with tax authorities using a variety of tax rules (including anti-avoidance provisions) to do so;
- Transfer pricing disputes becoming more common and more difficult to resolve, with this becoming an 'evergreen' contentious tax trend;
- The multitude of jurisdiction-specific trends in domestic tax disputes, including challenging partnerships with mixed members or salaried members in the UK and auditing management participation programmes in Germany;
- Tax authorities across the globe adopting more aggressive approaches than they historically have done, both in terms of the position taken and the penalties imposed;
- The variety of settlement options in different jurisdictions, and the increased likelihood of taxpayers considering litigation if a negotiated outcome is not forthcoming; and
- The potential impact of tax transparency measures and developments in technology on tax disputes in the years ahead.
The Digital Markets, Competition and Consumers Bill will introduce the most significant reforms to UK competition and consumer laws since the CMA was established in 2014.
The Bill is on track to take effect next year and is making its way through the UK Parliament. But its passage has been far from smooth sailing and fundamental questions about the Bill remain.
In this episode of our Essential Antitrust podcast, our host Jenn Mellott is joined by Sharon Malhi and Rikki Haria to explore the main features of the Bill and unpack its impact on businesses.
In September 2023, the OECD and Canadian Competition Bureau published the Gender Inclusive Antitrust Toolkit. Designed to help competition authorities apply a gender lens to enforcement, the toolkit features key conclusions on how gender can be factored into merger review, evaluation of competitive effects in conduct investigations, detection of cartels and broader public interest considerations.
Our host Jenn Mellott unpacks these important and timely findings in this episode of Essential Antitrust, joined by Nicholas French, partner in London, Vanessa van Weelden, principal associate in Brussels and Morag Elwis, associate in Silicon Valley. Together, they offer insights on how the toolkit may impact competition authorities and private companies.
The UK Chancellor of the Exchequer, Jeremy Hunt, has delivered the Autumn Statement 2023.
The Office for Budget Responsibility (OBR) reports that the UK economy has proved to be more resilient to the shocks of the pandemic and energy crisis than anticipated, but with growth forecasts for the next two years reduced and the UK inflation rate expected to be more persistently high, the Chancellor had only modest fiscal firepower at his disposal. That headroom was used to send a political message about the Conservative Party’s priorities, with tax cuts for both businesses and workers announced.
In our latest podcast, London Tax partners Peter Clements and May Smith and London Tax senior associates Josh Critchlow and Chris Gotch discuss some of the business tax measures they found the most noteworthy in the Autumn Statement 2023, including:
- Making full expensing capital allowance rules permanent, giving companies a 100% first-year allowance for capital expenditure on main rate assets;
- Further changes to the research and development (R&D) tax relief regime, including merging the existing R&D expenditure credit and SME R&D tax relief schemes, and expanding the scope of the previously-announced additional relief for loss-making R&D-intensive SMEs;
- Various steps aimed at supporting the energy transition and encouraging oil and gas investment, including introducing an exemption from the Electricity Generator Levy for new projects or extensions, confirmation the Energy Profits Levy will end in 2028 (or earlier if energy prices fall below levels set by the Energy Security Investment Mechanism), and bringing forward new measures to incentivise carbon capture, utilisation and storage;
- Reductions to various classes of NICs, benefitting both employed and self-employed workers;
- Announcements relating to the UK’s implementation of the OECD’s global minimum tax reforms, including that the Under-Taxed Profits Rule (UTPR) will apply from January 2025 and the Offshore Receipts in respect of Intangible Property (ORIP) rules will be abolished from that date; and
- On stamp duty/SDRT, the expansion of the growth market exemption, and an update on the government’s proposal to legislate to ensure the higher rate charge on the issue and certain transfers of UK shares and securities into clearance services or depositary receipt systems is not reintroduced from January 2024.
With Tim Clark, Global Head of Private Funds and Secondaries at Freshfields, and Pablo Caló, Managing Partner of Fairview Capital.Join industry leaders Tim Clark and Pablo Caló as they discuss the evolution of the secondary market and share insights from their experiences.
In this episode, Tim and Pablo delve into Pablo’s career arc, detailing how he ventured into secondary transactions and founded Fairview Capital. They explore the transformations in the secondary market over their careers and highlight the essential elements of successful GP-led transactions.
Discover the nuances of managing potential friction with LPs and LPACs, especially regarding conflicts and expenses in GP-led deals. Tim and Pablo provide valuable advice on minimising investor franchise risk and optimising deal approval.
The conversation also explores the rise of single asset continuation vehicles, addressing the shift from traditional exit tools and the significance of secondary buyers contributing dry powder for future growth.
Tim and Pablo navigate the complexities of the secondary marketplace, discussing the impact of artificial intelligence, drivers behind LP-led sale transactions, and the emerging trends in regions like Asia Pacific and Latin America.
Olivia Wyld and Johanna Nerona speak at Legal Geek, a legal tech conference, about how we use legal project management and empathetic leadership to support the management of matters and to go from chaos to control.
Nearly four years into his mandate as Director-General for Competition, Olivier Guersent joins us to reflect on this and on his 30-year career at the European Commission.
Olivier speaks with our podcast hosts Jenn Mellott and Laurent Garzaniti to debate the most significant enforcement milestones and challenges faced by DG Competition in recent years. These range from the state of EU antitrust policy and the growing divergence in global antitrust enforcement to the implementation of the EU’s new Digital Markets Act and Foreign Subsidies Regulation.
In this latest episode of our Essential Antitrust podcast, Olivier Guersent shares his observations on these challenges and aspirations for antitrust enforcement in the future.
Over the past few years, competition law regimes in Asia have been undergoing dynamic changes and there has been a noticeable uptick in enforcement since the end of the pandemic. In our latest episode of our Essential Antitrust podcast, we provide a bird’s eye view of the intricate world of antitrust and foreign investments screening in this rapidly evolving region.
Join our host Jenn Mellott, as she engages in a thought-provoking discussion with a panel including Kaori Yamada, head of our Asia antitrust practice in Tokyo, Ninette Dodoo, partner in Beijing, Laurent Bougard, counsel in Hong Kong, and Hazel Yin, partner from RuiMin Law Firm in Beijing. Together, they provide unique insights into the complexities and challenges facing business in the region. From the fast-paced changes in competition law enforcement, to the impact of geopolitical tensions on merger control and foreign investment, this episode covers it all. Tune in to stay ahead in the dynamic world of antitrust and foreign investment in Asia.
Join partners Takeshi Nakao (Tokyo) and Vinita Kailasanath (Silicon Valley) for the latest episode of the Freshfields MedTech podcast. With a focus on Japan and the US, they discuss trends and innovations in MedTech, and potential risk and regulation that companies with MedTech products and services face.
Introduction (English translation): Hello everyone. My name is Takeshi, Managing Partner of Freshfields Tokyo Office. In today's podcast, we will discuss MedTech. MedTech is the word combining “medical” and “technology”, referring to using IOT and other technologies in healthcare. I will ask the speaker about this area, starting with the definition, which I am sure many of you have heard recently. Technology developments have led to many innovations in the field of healthcare, making it one of the growth areas and an area of high interest. Today I would like to bring you together with an expert in this field from the United States, Vinita Kailasanath. Vinita is the head of Freshfields' MedTech practice and has extensive experience in the field, particularly where both life sciences and technology are concerned. She has been involved in transactions that are strategically very important to our clients in the MedTech and digital health sectors. She provides advice in licensing transactions, research and development, and those kinds of areas. In fact, before becoming a lawyer, Vinita was doing research in the field of neuroendocrinology at the graduate level, which is a word I looked up in the dictionary. She also has experience providing marketing and sales support to pharmaceutical and biotech companies.
Outro (English translation): This time, we started with a high-level conversation with the theme of MedTech, explaining recent trends in regulations. Vinita is an expert in the field of MedTech, and we would like to send you another podcast when we hear about new developments as new trends emerge, etc.. Thank you for listening.
In this episode of our MedTech podcast series, Freshfields partner Vinita Kailasanath and Subha Airan-Javia, MD, Founder and CEO of CareAlign, discuss Subha’s career path, how she’s addressing clinician burnout and where AI fits into the landscape.
The US FTC and DOJ recently released long-awaited updates to the Hart-Scott-Rodino (HSR) Form and Merger Guidelines for assessment of mergers.
The proposals entail much higher costs to notify transactions to the agencies, and we explore the substantive implications, including for industries such as tech, life sciences, and private equity.
In this episode of the Essential Antitrust podcast, our host Jenn Mellott is joined by Washington-based colleagues Bruce McCulloch and Laura Onken.
For more information, turn to our A Fresh Take blog posts on the HSR changes and the draft Merger Guidelines.
With the continued growth of the life sciences sector in Asia, companies are increasingly entering into licensing and collaboration arrangements to drive innovation and manage risk.
Understanding the risks involved in licensing and collaboration agreements is crucial for companies looking to tap into the thriving Asian market and establish successful partnerships. In this episode of our two-part series focusing on life sciences, podcast host Ninette Dodoo is joined by Kristen Riemenschneider, Mary Lehner, Richard Bird, and Xin Liu to discuss the complex regulatory landscape associated with licensing and collaboration arrangements. This includes anti-bribery, sanctions and export control risks, unique IP ownership challenges, data sharing issues and antitrust considerations concerns, which can make or break these deals.
Regulators across the globe are keeping a close eye on the rising influence of generative AI.
In a few short months, generative AI has proven to be a potent tool and global sensation. With perspectives from the United States, Europe and China, we dive into how regulators are responding to generative AI, focusing particularly on the MedTech space.
In this MedTech-centered episode of the Essential Antitrust podcast, our host Jenn Mellott and guest host Vinita Kailasanath (Silicon Valley) are joined by Ninette Dodoo (Bejing), Rikki Haria (London) and Justin Stewart-Teitelbaum (Washington, DC).
The Biden Administration antitrust agencies have viewed merger remedies in the US with strong skepticism. The Department of Justice’s Antitrust Division’s attempt to block ASSA ABLOY’s acquisition of Spectrum Brands’ Hardware and Home Improvement division was a case in point, until the trial concluded due to a rare settlement in May 2023, opening the door for the transaction to proceed subject to a divestiture remedy.
In the latest episode of our Essential Antitrust podcast our host Jenn Mellott is joined by Justin Stewart-Teitelbaum, partner in Washington, DC, and Angela Landry, counsel in Washington, DC and Silicon Valley, to discuss the implications of the settlement and what it means for merging parties considering remedy packages.
Antitrust authorities are taking tougher and more interventionist approaches to merger reviews, deploying novel theories of harm and more forward-looking approaches to assessing nascent markets and technologies. These challenges are on full display in the Microsoft/Activision deal, which was recently blocked by the UK Competition and Markets Authority whilst receiving clearances from the European Commission and other authorities.
In this latest episode of our Essential Antitrust podcast, our host Jenn Mellott is joined by our two newest antitrust partners, Rikki Haria and Jenny Leahy, to discuss the nuances underpinning these different results and how companies can navigate these key antitrust enforcement trends in future deals.
In this episode of our MedTech podcast series, Freshfields Partners Vinita Kailasanath and Timothy Howard and Principal Associate Philipp Roos discuss what is top of mind for clients in terms of health data considerations, including with respect to AI usage, in both the US and EU. Other topics include GDPR and EU digital strategy; HIPAA and the Dobbs decision as it relates to reproductive health data in the U.S.; and ways to safely and securely store data globally.
As international competition and antitrust laws continue to evolve, companies are concerned with ensuring that their sustainability collaborations do not fall foul of the law.
With regulators globally continuing to set out their differing, and sometimes divergent, positions, it has never been more critical for multinational business to stay abreast of the latest developments. Covering the European Commission, UK CMA, and the FTC/DOJ and State Attorneys General in the United States, we look at the current ESG and antitrust landscape and the implications for regulatory strategies.
In this special sustainability edition of our Essential Antitrust podcast our host Jenn Mellott is joined by Tim Wilkins (New York), Jake Reynolds (London), Martin McElwee (London), Sarah Jensen (London), Justin Stewart-Teitelbaum (Washington, DC) and Donna-Faye Imadi (Washington, DC).
At this year’s Spring Meeting hosted by the American Bar Association Antitrust Law Section in Washington, DC, antitrust and competition enforcers from the EU, UK, and US came together to share the latest in global antitrust enforcement and competition policy, as well as competition agencies’ collaboration, coordination, and goals for the coming year.
From digital markets and labor issues, to sustainability, and interlocking directorates, companies will want to continue monitoring the latest enforcement developments and guidance in these and other areas of priority for the agencies, all of which suggests another active year of antitrust enforcement around the world.
In this episode of our MedTech podcast series, Freshfields Partner Vinita Kailasanath and Jhaymee Tynan, Principal, Healthcare Services at Korn Ferry, and author of Inclusive Sponsorship: A Bold Vision to Advance Women of Color in the Workplace, discuss MedTech trends they are tracking, inclusivity in MedTech, and approaches that MedTech companies can take to bridge health disparities.
In this first episode of our new EUnpacked podcast series that will look to dive into key hot topics being tackled in Brussels, podcast host Natalie Pettinger Kearney is joined by Léa Bareil (Brussels) and Marlen Vesper-Gräske (Hamburg) to talk about how the EU’s sustainability agenda continues to evolve and how the new proposed due diligence rules are crucial for business.
In this episode of our Essential Antitrust Asia, Freshfields’ senior associate Laurent Bougard speaks to Ninette Dodoo, a partner of the firm’s Beijing office and head of the China antitrust team, as well as Hazel Yin, an antitrust partner of RuiMin Law Firm in China.
Topics discussed by our speakers include:
- Latest development in China’s antitrust regime and enforcement trends;
- China’s national security review regime, and lessons from recent cases; and
- Practical tips when doing businesses in China.
The UK Chancellor of the Exchequer, Jeremy Hunt, has delivered the Spring Budget 2023.
Following the instability experienced in the UK in recent months, it was a relief to many to see the Office for Budget Responsibility (OBR) confirm that ‘the economic and fiscal outlook in the UK has brightened somewhat’ since the Autumn Statement 2022 was delivered last November. That is not to say, though, that the UK economy was given a clean bill of health: the OBR also recognised that ‘weak underlying momentum’ remained, fuelled by high gas prices, stagnating business investment, rising labour market inactivity and slowing productivity growth. Against that background, it is perhaps no surprise that the Chancellor used this Spring Budget to introduce a range of measures – some headline-grabbing, others more subtle – designed to bring about ‘long term, sustainable, healthy growth’.
In our latest podcast, London Tax partners Helen Buchanan and Paul Davison and London Tax senior associate Josh Critchlow discuss some of the business tax measures they found the most noteworthy in the Spring Budget 2023, including:
- Confirmation that the increase in the main rate of corporation tax from 19% to 25% from 1 April 2023 will go ahead as planned;
- The introduction of new full expensing capital allowance rules giving companies a 100% first-year allowance for capital expenditure on main rate assets over the next three years;
- Further changes to the research and development (R&D) tax relief regime, including additional relief for R&D intensive SMEs and a delay to previously-announced restrictions on R&D relief for overseas expenditure;
- Confirmation that proposed changes to the scope of sovereign immunity from direct tax will not go ahead;
- A range of amendments designed to ‘fix’ elements of key UK business tax regimes, including the corporate interest restriction and the qualifying asset holding companies regime;
- Various steps aimed at supporting the energy transition, including proceeding with the previously-announced decarbonisation allowance in the Energy Profits Levy and bringing forward new measures on carbon capture, usage and storage; and
- Reforms to pension tax thresholds, including the unexpected abolition of the Lifetime Allowance.
The EU has a brand new tool to police subsidies from non-EU governments. It gives the European Commission power to review M&A deals and public procurement bids, as well as initiate investigations. Companies potentially affected need already now to set up internal information gathering, and to factor the new rules into deal feasibility assessments and timelines. In this episode, podcast host Jenn Mellott is joined by partner Merit Olthoff and counsel Lorand Bartels to talk about the situations in which these new subsidy control rules come into play, how they relate to the EU's existing WTO obligations, and how businesses can best prepare.
In 2023 antitrust enforcement will continue to respond to calls for it to do more to address a range of global crises and social concerns. Authorities are being given enhanced powers and new tools, and are tackling novel kinds of cases, which is significantly increasing unpredictability.
In this first episode of 2023, podcast host Jenn Mellott is joined by partners Jamillia Ferris (Washington, D.C.), Sharon Malhi (London) and Tone Oeyen (Brussels) to talk about our antitrust forecast for the months ahead, and to identify the most crucial issues for businesses to watch in the coming year.
In this episode of our MedTech podcast series, Freshfields Partner Vinita Kailasanath and Stacy Hostetler, Co-Leader of Egon Zehnder’s Medical Technology Practice discuss the convergence between tech and life sciences, diversity in the industry ecosystem and whether you should have a sponsor or a mentor.
Over the past several years, cartel enforcement actions appear to have been on the decline. Despite this, antitrust enforcers have made clear that they have no intention to ease up enforcement efforts and, in fact, have indicated a renewed commitment to aggressive enforcement – as illustrated by a recent spike in dawn raids, including of private homes, in Europe and several initiatives by the Biden Administration in the US.
In this latest episode of our Essential Antitrust podcast our host Jenn Mellott is joined by Ramya Arnold, senior associate in London, Dominic Divivier, senior associate in Duesseldorf, and Angela Landry, counsel in Washington DC and Silicon Valley, to discuss what enforcers in Europe and the US are focused on in their pursuits.
In this episode of our MedTech podcast series, Freshfields partners Vinita Kailasanath and Theresa Ehlen sit down with Gloria Seibert – Founder and CEO of Temedica – to discuss the future of digital health innovations and to reflect on Gloria’s own experiences as a founder and entrepreneur in the MedTech industry.
The UK Chancellor Jeremy Hunt has delivered the much anticipated Autumn Statement 2022 following a period of political and economic instability in the UK.
The Autumn Statement 2022 comes at a difficult time for the UK economy with inflation at its highest rate for decades and a significantly increased budget deficit forecast. In view of this, the Chancellor has made clear that both spending cuts and increased tax revenues are required to reduce the “fiscal black hole”.
In our latest podcast, London Tax partners Paul Davison and Jill Gatehouse and London Tax senior associate Josh Critchlow discuss the business tax measures they found the most noteworthy in the Autumn Statement 2022, including:
- Changes to the Energy Profits Levy – the windfall tax on oil and gas companies enacted in Summer 2022;
- The introduction of a new Electricity Generator Levy – a temporary 45% tax to be levied on extraordinary returns from low-carbon UK electricity generation;
- Confirmation that the UK will introduce the OECD Pillar 2 proposals, including further detail on the structure of these rules and when the rules will take effect;
- Reforms to rebalance R&D tax reliefs – involving proposals to increase the rate of the Research and Development Expenditure Credit and decrease the SME additional deduction and credit rate;
- Confirmation that both the reduction in the bank corporation tax surcharge rate to 3% and the increase in the diverted profits tax rate to 31% will go ahead as planned in April 2023;
- The new share-for-share exchange anti-avoidance measure that has immediate effect; and
- Reflections on tax measures that were not introduced.
US antitrust authorities have taken a more aggressive stance on merger enforcement, suing to block deals rather than looking for tailored fixes. After facing several defeats in US courts during September 2022, what does this new trend really mean for deal strategy?
In this latest episode of our Essential Antitrust podcast our host Jenn Mellott is joined by Jamillia Ferris and Julie Elmer, antitrust partners in Washington DC, and Martin McElwee, antitrust partner in London and Brussels, to discuss the implications of merger challenges brought by US agencies for both US-focused deals and deals that face broader international scrutiny.
“Activists are not creatures of trends or habits, necessarily, but are reactive to the market, society and where they fit in.”
In this episode of our Great (stakeholder) expectations series, Freshfields’ Elizabeth Bieber and Pamela Marcogliese and FTI Consulting’s Patrick Tucker and Garrett Muzikowski discuss the shareholder activism developments coming out of the past proxy season, expectations for future activism levels, new vulnerability points for companies, the potential impact of universal proxy, and ESG activism.
The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting, Inc., its management, its subsidiaries, its affiliates, or its other professionals.
FTI Consulting, Inc., including its subsidiaries and affiliates, is a consulting firm and is not a certified public accounting firm or a law firm.
“Choose one carefully articulated path and hang with it, even under pressure.”
In this episode of our Great (stakeholder) expectations series, Freshfields’ Elizabeth Bieber and Pamela Marcogliese and FTI Consulting’s Patrick Tucker and Garrett Muzikowski discuss the bastion of support for social issues coming out of the past proxy season, the implications for the engagement season, and the different pressures companies face on the broadest ESG category with potentially the most reputational risk.
The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting, Inc., its management, its subsidiaries, its affiliates, or its other professionals.
FTI Consulting, Inc., including its subsidiaries and affiliates, is a consulting firm and is not a certified public accounting firm or a law firm.
“If this risk is more worth taking than running afoul of investor expectations, take the risk.”
In this episode of our Great (stakeholder) expectations series, Freshfields’ Elizabeth Bieber and Pamela Marcogliese and FTI Consulting’s Patrick Tucker and Garrett Muzikowski unpack the status of climate disclosure, predictions for upcoming SEC rulemaking, and how to prepare for potentially significant changes on the horizon.
The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting, Inc., its management, its subsidiaries, its affiliates, or its other professionals.
FTI Consulting, Inc., including its subsidiaries and affiliates, is a consulting firm and is not a certified public accounting firm or a law firm.
"It is still difficult to predict when the new world of corporate taxation will materialise and what it will eventually look like."
In this podcast, tax partner David Beutel and principal consultant for EU Regulatory and Public Affairs Léa Bareil discuss the current status of the OECD’s Pillar Two proposals for a global minimum rate of tax. They look at the OECD’s current view on Pillar Two, the latest position in the EU - including what happens if unanimity can’t be reached, as well as considering recent developments in the US.
“It’s going to get weirder and harder before it gets better.”
In this episode of our Great (stakeholder) expectations series, Freshfields’ Elizabeth Bieber and Pamela Marcogliese and FTI Consulting’s Patrick Tucker and Garrett Muzikowski discuss ESG trends coming out of the past proxy season, the so-called “anti-ESG” movement, implications for the engagement season, the root causes behind them, and where companies should really be focusing their attention in the short-term.
The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting, Inc., its management, its subsidiaries, its affiliates, or its other professionals.
FTI Consulting, Inc., including its subsidiaries and affiliates, is a consulting firm and is not a certified public accounting firm or a law firm.
In this episode of our Essential Antitrust Asia series, Freshfields’ senior associate Laurent Bougard speaks to Kaori Yamada, a partner of the firm’s Tokyo office and Head of the Antitrust, Competition and Trade practice in Asia.
The topics discussed by Kaori and Laurent include:
- Key merger control considerations for Japan-bound investors;
- The JFTC’s increasingly informal approach to enforcement in behavioural cases; and
- Other practical tips when doing business in Japan.
Supported by increasing demand, partially fuelled by the impact of COVID-19, recent years have seen the life sciences sector develop into a critical growth area in Asia Pacific, which is home to approximately 60% of the world’s population. As a result, global investors are increasingly looking at opportunities in the region to capitalise on the demand. At the same time, Asian investors are increasingly expanding their footprint outside Asia Pacific.
In this episode, our speakers cover:
- Trends in investment strategy in life sciences in Asian markets.
- The challenges and risks associated with different transaction structures, and emerging risks for investors in Asian markets and for Asian investors investing outside the region.
- Practical tips on managing different risks and cultural preferences in cross-border transactions.
The UK government recently published an unexpected consultation setting out proposals to reform the existing UK sovereign immunity exemption from direct tax. The proposals include significantly restricting the scope as well as changing the eligibility criteria for this exemption.
In this podcast Joshua Critchlow discusses the proposals in the consultation with London tax partners Helen Buchanan and May Smith and London tax associate Charlotte Anderson.
This includes a detailed overview of the key proposals and the rationale for the proposals as well as discussion on which investors will be most impacted by these proposals. It is highlighted that the most significant implications are likely to be for sovereigns investing in UK real estate, including sovereign wealth funds and overseas government pension funds, as well as fund managers that have relied on the sovereign immune status being available for investors
Following on from our 2021 podcast on the European Commission’s AML/CFT legislative package, this new podcast will focus on the progress made to the proposed Regulation for a new AML Authority since its publication a year ago.
In this podcast, Janina Heinz (Financial regulatory Counsel based in Frankfurt), Marcel Michaelis (White-collar defence, compliance and global investigations Associate, based in Berlin) and Victor Garcia Lopez (EU Regulatory and Public Affairs Consultant, based in Brussels) analyse the developments that have taken place over the last 12 months around this piece of legislation. They provide updates on where this initiative stands in the EU legislative procedure, the main tasks and powers of the new authority, as well as the key points for industry players and market participants to consider.
In this episode of our MedTech podcast series, Freshfields Partner Vinita Kailasanath sits down with Marissa Fayer – CEO and Founder of HERhealthEQ – to discuss trends in the global women’s healthcare market, including the women’s health industry’s growth beyond fertility solutions, efforts to increase clinical trial diversity, health equity, and more.
Antitrust Authorities worldwide have been very vocal on their increasing focus on antitrust violations in the labor market – but what does this actually mean for businesses?
In this latest Essential Antitrust podcast, host Meghan Rissmiller is joined by Holly Insley, a partner in Freshfields’ People and Reward practice in London, and Ermelinda Spinelli and Bruce McCulloch, antitrust partners in Milan and Washington DC. They discuss trends in antitrust labor enforcement and some practical implications for businesses looking to ensure compliance amidst the ever-evolving enforcement regimes.
The introduction of an inward UK corporate re-domiciliation regime has been given the green light in the responses to an initial consultation - but otherwise the detail of the regime remains subject to consideration by the UK government and further consultations on the design of the regime are expected in due course.
In this podcast Joshua Critchlow interviews tax partner Jill Gatehouse, corporate partner George Swan and senior knowledge lawyer Alison Dickie to discuss some of the key UK corporate and tax aspects of the proposals as well as what we can expect in terms of next steps.
This includes discussion of the rationale for introducing a UK corporate re-domiciliation regime and whether the proposals deliver on the objective of making it easy to re-domicile to the UK. Key tax implications of the proposals are also considered, including the interaction with existing UK corporate tax residence and stamp duty/SDRT rules and the potential impact on the base cost of capital gains and intangible assets for companies re-domiciling to the UK.
On 1 June new EU and UK rules on agreements for the supply and distribution of goods and services enter into force.
In this latest Essential Antitrust podcast, host Meghan Rissmiller is joined by Tone Oeyen and Alex Potter, partners in Brussels and London, to discuss the implications for businesses as they look to ensure compliance with the new regimes and adapt their strategies to take advantage of some of the changes.
In our fourth podcast in this series, partner Alastair Mordaunt is joined by Michele Davis, partner in London, Aimen Mir, partner in Washington, DC, and Felix Roscam Abbing, senior associate in Amsterdam to look at developments in some of the fastest changing areas of global regulation.
Together they share their initial impressions of the UK’s new National Security and Investment Act, provide an update on enforcement activity in the US by CFIUS, and discuss risks for limited partners in financial sponsor deals.
This episode focuses on the key updates and enforcement trends in Hong Kong.
It features Hong Kong-based partner Alastair Mordaunt, co-head of Freshfields’ Antitrust, Competition and Trade practice in Asia, and senior associate Laurent Bougard, moderated by Hazel Yin, co-head of the Antitrust, Competition and Trade practice in China.
In this episode, our experts cover:
- An overview of Hong Kong competition regime, including the latest developments and enforcement trends
- Practical tips when doing businesses in Hong Kong
Driven by accelerated digitalisation, evolving consumer demand and merchant adoption since the onset of COVID-19, the buy now, pay later sector is growing rapidly with emerging business models, new payments providers and increased interests from investors as well as incumbents.
In this podcast, Matt O’Callaghan (Head of Financial Services Asia), Janina Heinz (Counsel) and Eugene McQuaid (Senior Consultant, EU Regulatory and Public Affairs) provide an update on the market landscape and how different regulators around the globe are approaching this topic. We explore how the regulatory trends will shape the market in 2022 and beyond, and what new entrants and investors interested in this space need to be mindful of.
In this podcast senior knowledge lawyer Alison Dickie speaks to partner Sarah Bond, senior associate Simon Murray, and associate David Haughey about the relevance and practical application of legal professional privilege in the context of contentious tax matters. Our cross-practice team explain how and when the different categories of privilege under English law will be relevant as a tax dispute progresses, as well as discussing some common areas of difficulty and pointers for dealing with privilege issues in practice.
In the first of a new podcast series exploring the fast-evolving world of MedTech, Freshfields Partner Vinita Kailasanath sits down with Matthew Holt – MedTech blogger, trend-spotter and self-confessed ‘healthcare curmudgeon’ – to talk about the future of machine learning in healthcare, telemedicine, digital therapeutics and much more.
Data issues are increasingly in the spotlight in the tech and life sciences sectors, requiring a holistic approach to antitrust and data protection considerations.
The second of a two-part series covering the regulatory landscape in innovation-driven industries, in this episode of the Essential Antitrust podcast our host Meghan Rissmiller is joined by Christine Lyon, partner in Silicon Valley, Kaori Yamada, partner in Tokyo and Rikki Haria, senior associate in London to discuss the increasingly key data issues and remedies which frequently arise in innovation-driven deals and the complex interplay between antitrust and data protection in this sphere.
Licensing and collaboration agreements, integral to the life sciences and tech industries, are increasingly complex from an antitrust perspective.
First in a two-part series covering the regulatory landscape in innovation-driven industries, in this episode of the Essential Antitrust podcast our host Meghan Rissmiller is joined by Tone Oeyen, partner in Brussels, Jenny Leahy, senior associate in London and Kristen Riemenschneider, partner in Washington DC to discuss the cross-border regulatory considerations that arise throughout the lifespan of licensing and collaboration agreements.
The rate of cyber attacks has increased since the beginning of the pandemic affecting businesses across all sectors. This podcast, featuring Lori Baker, Vice President of Legal and Director of Data Protection in the DIFC, introduces effective strategies to combat cyber attacks, mitigate and manage risks, as well as best practices when it comes to investigating cyber attacks. Freshfields’ global investigations lawyer Zara Merali in Dubai is joined by Lori Baker, Kevin Wong, cybersecurity consultant in Dubai, and Shiraz Sethi, Regional Head of Employment at Dentons in Dubai.
The US FTC and DOJ Antitrust Division recent launch of a process to review the agencies’ merger guidelines comes amid a broader trend of heightened antitrust scrutiny.
In this episode of Essential Antitrust, podcast host Meghan Rissmiller is joined by Justin Stewart-Teitelbaum, partner, and Laura Onken, counsel, in Washington DC to discuss the RFI in the context of this broader trend, the anticipated process for revision of the guidelines, and implications for merger review in the meantime.
In the latest episode of the Freshfields TQ podcast, partners Natasha Good, Andrea Merediz Basham and Nigel Gleeson provide a global view on the tech investing trends to look out for in 2022. Together they discuss the increasing diversity of investors seeking to gain a foothold in the sector, the impact this is having on deal structuring – and the asset classes to watch in the year ahead.
You’ll rarely find opportunity without risk. Investing in Asia-Pacific is no exception. The nature and the speed of change in the region impacts the evolution of risk and the significant opportunities open to the best prepared global investors.
Joining Ninette Dodoo for this episode are Arun Balasubramanian (Freshfields), Ken Juster (Freshfields) and Wai Leng Leong (CDPQ Head of Asia Pacific region) who will be unpicking the nuanced risks and the required risk strategies that will assist you in successfully deploying capital across Asia-Pacific. You will also discover how ‘touching an Elephant’ can help you to navigate a specific risk.
In this podcast, Tom Clark and Sharon Grennan consider the themes in UK financial services enforcement in 2021, describe the key decisions and comment on potential future enforcement.
In 2022 expansive legislation and aggressive enforcement are clearly a priority for governments and authorities around the world.
In this first episode of our Essential Antitrust series for 2022, podcast host Jenn Mellott is joined by Thomas Janssens, Sarah Jensen and Meghan Rissmiller to discuss our recently published annual review of the antitrust landscape, which describes the major trends and developments we expect to see in the year ahead.
The coalition negotiations have concluded with the “traffic light” coalition being agreed, and so on 8 December 2021 Olaf Scholz was sworn in as the new German Chancellor in the Bundestag, marking the end of Angela Merkel’s 16 year tenure. Now that the coalition is in place, what will this mean for business?
In our latest podcast, senior knowledge lawyer Alison Dickie speaks to David Issmer, Freshfields’ Head of Public Affairs in Germany, and German tax partners David Beutel, Philipp Redeker and Georg Roderburg to discuss the coalition agreement and what it tells us about the priorities of the “traffic light” coalition, for both global and domestic tax policy as well as for businesses with a Germany presence.
2021 is set to be a record year for tech investment fuelled by high valuations, strong competition from a broader pool of investors, and no shortage of funding options for tech companies.
This surge in tech M&A activity has prompted global agencies to reconsider the national security, consumer and competition impact of new technologies and evolve the use of their powers to intervene on tech and data-driven transactions.
In this podcast Rafique Bachour discusses with tech M&A partners Natasha Good and Lars Meyer whether regulatory developments targeting tech companies are set to disrupt a record year of tech deal-making. To request a copy of Freshfields’ interactive global tech regulatory report mentioned in this podcast, please contact techconnect@freshfields.com.
With Dr Mohamed El-Erian, President of Queens' College Cambridge
Few people have the ability to scan the horizon for future risks quite like the world-renowned economist Dr Mohamed El-Erian. We were delighted to welcome Mohamed for the latest episode of our Big Conversation podcast, where Freshfields partners Eric Mahr and Aimen Mir sought Mohamed’s views on the issues every business leader should have on their radar, from US/China relations to the specter of rising inflation.
Senior Associate Maha Osman talks to the Co-Heads of our Africa Practice Gabriel Mpubani and Rob Cant about the progression of our Africa practice and some of the highlights along the way.
We learn about Freshfields Bruckhaus Deringer’s intentional focus on the African continent and get a snapshot of some of the interesting work that has been done there.
No purchaser wants to buy a lawsuit… or a five year privacy investigation and mass claims on three continents.
Our privacy and cyber experts look at the key lessons for M&A from recent cyber attacks and major privacy incidents, and how to address these concerns when doing deals.
This podcast was originally recorded for Freshfields’ Asia In-house Counsel Forum in October 2021.
With Tariq Fancy, former chief investment officer for sustainable investing at BlackRock and Helen Clarkson, CEO of The Climate Group
Welcome to our first Big Conversation podcast, where we bring together leading thinkers from business, politics and academia to explore the forces shaping the world around us.
In this episode, Tim Wilkins, Freshfields’ global partner for client sustainability, and Oliver Dudok van Heel, our head of client sustainability and environment, sit down with Tariq Fancy, former chief investment officer for sustainable investing at BlackRock, and Helen Clarkson, CEO of The Climate Group, to discuss the transition to net zero. Together they look at the impact on business of the COP26 climate conference in Glasgow, forthcoming climate-related regulatory changes, the challenges of measuring ESG performance – and the future of capitalism itself.
As part of our ESG x Fintech focus, the Freshfields fintech team take a look at the “G” in ESG: governance – what is governance, why is it important and what are some of the practical steps fintechs can take.
In this podcast, Claire Harrop, Thomas Clark, Pamela Marcogliese and Kenneth Hui use their perspectives from a range of sectors and jurisdictions to discuss the key governance matters fintechs face today.
In the second of our new quarterly series, partner Alastair Mordaunt is joined by US CFIUS expert and partner Aimen Mir and China partner Hazel Yin to discuss developments in foreign investment.
Together they look at recent foreign investment screening activity levels across the key jurisdictions, discuss the latest policy changes and what they mean for regional attitudes to foreign investment generally, and make some predictions for activity levels and developments in 2022.
Following the recent OECD/G20 agreement on the two pillars, the US has agreed with various countries to terminate its trade actions against them in return for the withdrawal of their digital services taxes (DSTs).
In this latest episode of our Tax Matters podcast Joshua Critchlow interviews Lorand Bartels, Katharina Kubik and Brin Rajathurai about the implications of these recent agreements and what trade law challenges may remain in relation to DSTs. The team also discuss tax developments on the horizon that will need to be monitored from a trade perspective and explore challenges around getting the OECD agreement implemented in the US.
This episode features Alastair Mordaunt, partner and co-head of our Asia competition practice and Elizabeth Avery, a senior partner at Australian law firm Gilbert + Tobin and leader of its competition and regulation group.
Merger control and antitrust regulation are on the rise across the region and Australia is high on the list of jurisdictions to watch out for in terms of competition enforcement.
In this episode, our experts will discuss:
- An overview of the Australian merger regime as it currently operates today
- The proposed overhaul of the regime and why the ACCC thinks reforms are necessary
- Next steps and when we might see reforms come into force
The EU has proposed a sweeping set of measures designed to combat corporate tax avoidance, address the challenges of the digital economy and create a more sustainable and greener EU economy. Here, our transatlantic team – Claude Stansbury in Washington, Leza Bieber in New York, Georg Roderburg in Dusseldorf, Bob van Kasteren in Amsterdam and Léa Bareil in Brussels – discuss what the proposals mean for US corporates.
From IPOs to direct listings and SPAC mergers, there are more ways than ever for tech founders to take their businesses to the next level. In the latest Freshfields TQ podcast, partners Sarah Solum, Mark Austin and Stephan Pachinger give a global perspective on the capital markets and discuss what founders and investors need to know at this critical phase of the corporate cycle.
Merger control assessments are becoming less predictable. The European Commission has changed its policy towards Member State referrals. The CMA has been flexing its broad jurisdictional thresholds to call in transactions for review. Driven by a desire not to let any transactions fall through the net, there is a key focus on innovative sectors such as tech and life sciences but the uncertainty extends across industries. Parties must be prepared to deal with the difficulties of navigating this increasingly complex environment.
In this episode, podcast host Jenn Mellott speaks with Alan Ryan, Bertrand Guerin and Megan Yeates to discuss these developments and how merging parties can deal with this increasing uncertainty.
Venture investments are an important way for companies to access technology and innovation - and generate financial returns. In the latest episode of the Freshfields TQ podcast, New York Partner Andrea Merediz Basham is joined by senior associates Marcus Wolter (Tokyo) and Saloua Ouchan (Amsterdam) to explore the secrets to successful corporate venture investing – from where the deal team should sit in the business to the structures and processes that are most attractive to founders.
The German federal election on 26 September 2021 marked the beginning of the end of Angela Merkel’s time as German Chancellor, however, the outcome of the election is still unclear. No single party has yet been able to claim leadership of the Bundestag – although negotiations have begun between the Social Democrats, the Greens and the Liberals which could result in the so-called “traffic light” coalition.
In our latest podcast, senior knowledge lawyer Alison Dickie speaks to David Issmer, Freshfields’ Head of Public Affairs in Germany, and German tax partners David Beutel, Philipp Redeker and Georg Roderburg to discuss the German election results and what the “traffic light” coalition might mean for both global tax policy and the domestic German tax landscape as well as the potential implications for businesses with presence in Germany.
US data privacy law is evolving fast, with a number of states introducing tough new rules and even talk of a federal privacy regime. In a wide-ranging conversation across the data and cyber frontier, Christine Lyon, co-head of Freshfields’ global data privacy group, joins counsel Brock Dahl and Boris Feldman, Freshfields’ head of US tech, to discuss what’s coming down the track, whether tighter restrictions could stifle innovation, why companies should be wary about using 'black box' AI – and how boards can prepare for a data breach.
Fintech M&A is booming, but so is regulatory scrutiny. Competition authorities are increasingly bullish to claim jurisdiction over fintech deals and to pursue novel theories of harm. At the same time, the scope of foreign investment regulation has widened due to the pandemic and ongoing trade tensions, adding yet another piece to the regulatory jigsaw puzzle faced by deal-doers. Getting your fintech deal cleared is no longer a given, and even if you get your merger control and foreign investment clearance, there is still a host of other financial regulation that applies before, throughout and after the deal process.
In our 15th episode, podcast host Jenn Mellott speaks with Rod Carlton, Christine Laciak and Cyrus Pocha to discuss these developments.
This episode features Freshfields partner Alastair Mordaunt and partners from Indian law firm AZB & Partners, Samir Gandhi, Senior Partner and head of the firm's competition practice, and Hemangini Dadwal, who both advise on a broad range of competition and merger control issues in India.
In this session, our experts will discuss:
- An overview of India’s competition regime, including the latest developments and trends in merger control and antitrust enforcement
- Recent cases in the tech sector
- Key tips for merging parties who need to notify their transaction in India
In this podcast, we look at arbitration from a different—economic—perspective. Freshfields senior associate Samantha Tan invites Lee & Ko partners, Sanghoon Han and Saemee Kim, and Freshfields partner Nicholas Lingard to discuss the cost-efficiency of running an arbitration. Our speakers discuss potential “money pits” and explore lesser known, sometimes counterintuitive, ideas for managing costs at the outset of an arbitration.
Arbitration Insider is a podcast series focusing on international arbitration produced by the New York International Arbitration Center (NYIAC) and Freshfields Bruckhaus Deringer.
In the third episode of Arbitration Insider, co-hosts Rekha Rangachari, Executive Director of NYIAC, and Olivier André, Client Relationship Advisor at Freshfields, chat with four seasoned New York-based international arbitration practitioners on starting and developing a successful career in international arbitration. This episode features Noiana Marigo (Freshfields Bruckhaus Deringer) as a special guest.
Podcast guests include Deborah Enix-Ross (Senior Advisor, International Dispute Resolution Group at Devoise & Plimpton & President-Elect of the American Bar Association), John Fellas (Independent Arbitrator), Louis B. Kimmelman (Independent Arbitrator & Chair of the New York International Arbitration Center), Dana MacGrath (Independent Arbitrator & President of ArbitralWomen) and Noiana Marigo (Partner, Freshfields Bruckhaus Deringer, Head of International Arbitration in the Americas, Co-Chair of the Latin America Practice).
Reference materials:
- As ABA's president-elect nominee, Deborah Enix-Ross brings a wealth of experience by Amanda Robert (ABA Journal, June 1, 2021)
- ArbitralWomen president goes solo in New York by Toby Fisher (Global Arbitration Review, August 18, 2021) [paywall]
- NYIAC Puts Ex-Sidley Arbitration Pro At The Helm by Caroline Simson (Law360, January 29, 2021)
- Fellas launches new practice by Jack Ballantyne (Global Arbitration Review, December 16, 2020) [paywall]
- Freshfields wins inaugural GAR Green Arbitration Award by Olivier André and Stephanie Mbonu (July 6, 2021)
In this podcast, Cyrus Pocha (London), Sarah Robinson (London), Altin Sila (New York), Martina de Lind van Wijngaarden (Frankfurt) and Tim Mak (Hong Kong) discuss the drivers for growing individual participation in financial markets, the challenges faced by regulators who want to promote competition whilst protecting consumers, and the challenges and opportunities presented by this trend for financial services firms.
The EU has announced a wide-ranging package of tax reforms, called “EU BT 21”, which presents a diverse range of measures from those addressing the increasing digitalisation of the economy, to those designed to increase transparency and others supporting the green transition.
Some of these measures are progressing plans the EU has been working on for several years, whereas others are heading into new territory. The EU has said that these reforms aim “to promote a robust, efficient and fair business tax system in the European Union”, but what will they mean for businesses operating or investing in the EU?
In the latest episode of our Tax matters podcast, Josh Critchlow is joined by partners Philipp Redeker, Georg Roderburg and Bob van Kasteren and senior knowledge lawyer Brin Rajathurai to discuss how this broad set of proposals will impact corporate taxpayers in the EU. Read more about how businesses can navigate the EU BT 21 package here.
On 20 July 2021, the European Commission presented an ambitious package of legislative proposals to strengthen the anti-money laundering and countering the financing of terrorism (AML/CFT) rules. The main pillars of this are the EU single rulebook and a new supervisory authority at EU level. Additionally, the package includes legislative proposals for a new AML/CFT Directive repealing the currently applicable 5th Anti-Money Laundering Directive.
In this podcast, Daniel Travers (Criminal law Counsel, based in Duesseldorf), Janina Heinz and Marius Raetz (Financial regulatory Counsel and Principal Associate, both based in Frankfurt) and Victor Garcia-Lopez (EU Regulatory and Public Affairs Consultant, based in Brussels) explore the axes of the Commission´s AML package. They touch upon the impact on the creation of a new institutional framework, discuss some substantive elements of the package and bring light into the criminal law consequences for financial services as well as the wider industry.
In the second of our new quarterly series, partner Alastair Mordaunt is joined by UK partner Michele Davis, US CFIUS practitioner Christine Laciak and EU FDI practitioner Aude Guyon to discuss developments in foreign investment.
How will the UK’s new National Security and Investment Act impact companies when it comes into force? How are priorities shifting under President Biden, and how is CFIUS continuing to shape US investments? Nine months into the EU’s new FDI screening regime, how are FDI reviews being conducted and what are individual EU countries doing? And what should businesses think about when it comes to the practical applications of all these different screening regulations?
ESG has risen up the corporate agenda, driven by investors, employees, NGOs, government regulation, climate change, other environmental challenges, and societal issues, among others.
In this episode, Ninette Dodoo, Matthew O’Callaghan and Tim Mak are joined by Craig Katerberg, Chief Legal and Corporate Affairs Officer at Budweiser APAC, to discuss what is behind the rising prominence of ESG in corporate Asia.
The discussion explores how regulatory, environmental and societal issues are driving change, the risks for companies and how companies can transform ESG risks into opportunities.
On July 9, 2021, President Biden signed a far-reaching executive order aimed at promoting competition in the American economy.
With directives covering a dozen agencies and establishing a new White House Competition Counsel, the Executive Order will impact many different sectors, including technology, healthcare, agriculture, labor, and beyond. At the same time, there are several antitrust developments in the US that suggest that political interest in antitrust is not going away any time soon, and even more reform efforts are likely to be on the horizon.
In our 14th episode, podcast host Jenn Mellott speaks with Bruce McCulloch and Justin Stewart-Teitelbaum to discuss these developments and what they mean for businesses.
Earlier this year, Russia slowed down Twitter in a row over content. Now, a new law requires any foreign tech company above a certain size to have a presence on Russian soil. With the US imposing sanctions over concerns about ransomware and misinformation - and Moscow armed with the power to fine major tech firms up to 20 per cent of global revenues - operating between East and West has never been more challenging. In our latest episode of View from the Valley, our teams in Menlo Park, New York and Moscow explain how to navigate this fast-changing landscape
As payment-systems users are able to connect with businesses and individuals in other countries, at the tap of a screen, there is a rapidly growing need for those payment-systems to keep pace.
The infrastructure for cross-border payments has struggled to keep up with the demand for efficient and more closely integrated payment methods that support these developments. The key question is whether new technologies will be able to assist in improving the quality and speed of cross-border payments whilst making the infrastructure future-proof and safe?
In this podcast, Matt O’Callaghan (Head of Financial Services Asia), Stephan Pachinger (Finance and Capital Markets Partner) and Charlotte Witherington (Senior Associate, Financial Services) discuss the international efforts to improve cross-border payments, with a particular focus on the responses of Asia, the EU and the UK. They also take a look at the roles that digital payments, central bank digital currencies and stablecoins may play in shaping the future of money.
In last year’s Budget, Rishi Sunak unveiled plans to require big businesses to proactively disclose information on the grey areas in their tax returns. Following significant pushback, the government responded with a series of changes, yet with the proposals applying to returns filed after April there is still a lot of uncertainty. In the latest episode of our Tax Matters podcast, Josh Critchlow is joined by partners Sarah Bond and Paul Davison to discuss where the plans are now – and how companies should respond.
Arbitration Insider is a podcast series focusing on international arbitration produced by the New York International Arbitration Center (NYIAC) and Freshfields Bruckhaus Deringer.
In this second episode, co-hosts Rekha Rangachari, Executive Director of NYIAC, and Olivier André, Client Relationship Advisor at Freshfields, focus on anticipated disputes in 2021 arising out of but not limited to the pandemic, engaging on themes of evolution and dynamism that permeate global disputes practices.
Conversations with outside and in-house counsel and leaders of arbitral institutions spotlight changes within both international commercial and investment treaty arbitration with a look to industry trends and forthcoming disputes allied with arbitral institutional caseloads and rules revisions, each buttressing a broader world view on the state of play.
Podcast guests include Lea Haber Kuck (International Litigation and Arbitration Partner, Skadden, Arps, Slate, Meagher & Flom LLP), Hagit M. Elul (International Arbitration Partner, Hughes Hubbard & Reed LLP), Noah Rubins, QC (International Disputes, Litigation & Arbitration Partner, Freshfields), Patricia Garcia (Senior Legal Counsel, VINCI), Natalí Sequeira (Team Leader & Legal Counsel, International Centre for the Settlement of Investment Disputes), and Luis M. Martinez (Vice President, American Arbitration Association-International Centre for Dispute Resolution).
Reference materials:
- Freshfields’ International Arbitration in 2021: Illuminating Top Trends
- Hughes Hubbard Reed COVID-19 Resource Center
- VINCI Airports – Traffic 2020 Press Release
- ICSID Rules and Regulation Amendments – Working Papers
- ICSID-UNCITRAL Code of Conduct for Adjudicators in International Investment Disputes
- ICDR 2021 International Rules Amendments
Many stakeholders have applauded the European Commission for its European Green Deal programme. But a key question remains: who will pay for green transformation of the EU’s economy? Most businesses will not be able to finance the transition themselves and entire industries are calling for more public funding.
In our 13th episode, podcast host Jenn Mellott speaks with Merit Olthoff and Christiaan Smits about the enormous 2050 climate neutral objective the European Union has set itself and how sustainable finance and state aid will play a role in funding green transition.
In this podcast in our series on market conduct topics intended for a financial services audience, Tim Mak in Hong Kong, Altin Sila in New York, Dan Newton in London and Anne-Laure Vincent in Paris discuss the insider dealing regimes in the key financial centres and some key differences between them, using US case law as a springboard.
The pandemic has left parties to long-term contracts in arrangements that are no longer commercially viable.
Some have been able to agree on revised terms with their counterparties relatively quickly and easily. For others, the process has been more formal and prolonged, and involved considering the contract-renegotiation law of the applicable jurisdiction.
In this second podcast in our ‘Rethinking the supply chain’ series, Kate Gough, Moritz Becker and Tim Harkness from our dispute resolution practice discuss the legal framework for renegotiating contracts under the laws of England and Wales, Germany and the US, and the common mis-steps that negotiators make.
ESG has risen up the corporate agenda, driven by a combination of investor activism, government regulation, climate change, societal issues and shifts in the way companies think about governance.
In this episode, Teresa Ko, Tim Wilkins, Keith Pogson and Ninette Dodoo compare board diversity initiatives in Hong Kong and the US and look at how each market is pivoting companies toward diverse boards and challenging companies to do better on this key governance metric.
The discussion covers the unique challenges facing Hong Kong, the actions being taken to improve board diversity and the key risks for companies that do not embrace change.
In the United Arab Emirates, there is no general duty for employees to disclose wrongdoing in a company, but as the podcast participants highlight, introducing effective speak up programs and whistleblowing protections are essential to well-functioning compliance programs and to mitigate risks.
Freshfields’ global investigations lawyer Zara Merali in Dubai is joined by Patrick Meaney, Head of Enforcement at the Dubai Financial Services Authority (DFSA), Anjam Jalal, Associate Director, Enforcement at the DFSA, and Shiraz Sethi, Regional Head of Employment at Dentons to discuss the challenges, laws, best practices and future directions of whistleblowing in the UAE and the Dubai International Financial Centre (DIFC), with Patrick and Anjam providing a regulatory point of view.
Arbitration Insider is a podcast series focusing on international arbitration, produced by the New York International Arbitration Center (NYIAC) and Freshfields Bruckhaus Deringer.
In this first episode, co-hosts Rekha Rangachari, Executive Director of NYIAC, and Olivier André, Client Relationship Advisor at Freshfields, focus on the trend towards climate change and arbitration. This topic has become a hot issue over the past few months as the public and private sectors are faced with increased pressure to engage more actively in combating climate change and to reach the targets set by the 2015 Paris Agreement. In that context, arbitration is increasingly being used to resolve various climate change related disputes and the international arbitration community itself is embracing various initiatives to reduce its own carbon footprint.
Podcast guests include Lee Rovinescu (International Arbitration Partner, Freshfields), Eric Franco (Disputes Global Expert & General Counsel, Engie Peru), Lucy Greenwood (Independent Arbitrator & Founder of the Campaign for Greener Arbitrations), Christoffer Coello Hedberg (Legal Counsel, Arbitration Institute of the Stockholm Chamber of Commerce) and Kiran Sanghera (Special Counsel, Hong Kong International Arbitration Centre).
Reference materials:
- Campaign for Greener Arbitrations – A Framework and Green Protocols
- The Green Pledge - Green Pledge | Campaign for Greener Arbitrations
- ICC Commission Report – Resolving Climate Change Related Disputes through Arbitration and ADR
- 2018 Administered Arbitration Rules: 2018 Administered Arbitration Rules | HKIAC
- Revised SCC Arbitrator’s Guidelines: Revised SCC Arbitrator’s Guidelines - The Arbitration Institute of the Stockholm Chamber of Commerce (sccinstitute.com)
The third episode in our Asia Essential Antitrust podcast series in which we speak with local experts in Asia to bring you the latest competition law trends and updates in the region.
This episode focuses on Vietnam’s new Competition Law and features Tony Foster, the Managing Partner of Freshfields’ Vietnam practice; An Hoang Ha, a Senior Associate based in Hanoi with more than 15 years of experience advising investors on Vietnamese law; and Le Hai Duong, an associate based in Ho Chi Minh City. Alastair Mordaunt, co-head of the Antitrust, Competition and Trade practice in Asia, moderates.
In this session, our colleagues will discuss:
[01:37] – An update on inbound investment into Vietnam
[04:29] – An introduction to the new Competition Law and merger control regime in Vietnam
[10:13] – The filing thresholds and nexus requirements under Vietnam’s merger control regime
[13:46] – Filing trends under the new regime
[20:23] – Practical tips for clients on navigating Vietnam merger control regime
In the US, there are sweeping proposals in Congress for stricter merger control laws. In the EU, the European Commission is encouraging referral requests from Member States, even where transactions fall below merger control thresholds. In the UK, the revised Merger Assessment Guidelines seek to give the CMA more flexibility to find competition issues. All the while, different regulators are on record calling for tougher overall enforcement against consolidation. Intensified merger control around the globe will mean more – and less predictable – merger filings, making deal-making more complex.
In our 12th episode, Jenn Mellott speaks with Alastair Chapman, Meghan Rissmiller and Sascha Schubert about how companies can navigate the increasingly daunting merger control landscape.
When the Darkside group launched a cyber attack on Colonial Pipeline, it took the business offline and starved much of the US East Coast of fuel.
In our latest podcast (featuring Boris Feldman, Kimberly Zelnick, Giles Pratt, Nabeel Yousef, Lauren Honeyben, Shannon McGovern and the latest recruit in our cyber and data practice, Brock Dahl, former deputy GC at the National Security Agency) we explore what’s known about the shadowy hacking collective, explain the risks board members face from ransomware strikes - and reveal the questions directors should be asking to protect themselves and their companies.
The European Union has finally released its plan to regulate AI. In the first of a mini-series exploring the implications of the proposed rules, Natalie Pettinger-Kearney, Andrew Austin and Christoph Werkmeister discuss what use cases are banned, what sanctions are on the table – and why it’s not too late for businesses to have their say.
In the first of a new quarterly series, partner Alastair Mordaunt is joined by CFIUS advisor Colin Costello and EU FDI practitioners Ermelinda Spinelli and Rocío de Troya to discuss developments in foreign investment review. How will national security deal screening evolve under President Biden? How is the EU’s new FDI regime being applied on the ground? And how should businesses respond to this fast-changing environment?
They’ve long been used by oil companies to protect against foreign governments seizing their assets. But could bilateral investment treaties also insulate big tech from punitive tax charges, hastily introduced regulations – and even cyber attacks? Elliott Friedman and Tom Walsh in New York, and Annie Pan in London, explain all to Freshfields’ head of US tech, Boris Feldman
Further resources: You can view the US model BIT here; explore every current BIT in place around the world here; find information on US trade agreements, many of which include investment chapters that provide for arbitration, here; discover more about structuring your investments to achieve treaty protection here; and read a related blog here.
In this podcast, Anthea Bowater, David Livshiz, Tim Mak, Simon Orton and Anne-Laure Vincent revisit the topic of ESG disputes in the context of the financial services sector following their webinar and blog post in December. They provide updates from around the world on the developing political and regulatory landscape, diversity and climate commitment litigation, further moves to create international standards for ESG reporting and allegations of greenwashing against funds.
In a digital world, open data is paramount for driving innovation and delivering positive social and economic transformation. In the banking context, this has been in planning for a number of years under the guise of 'open banking'. But, what is open banking?
In this podcast, Matt O’Callaghan (Head of Financial Services Asia), Natalie Pettinger Kearney (Deputy Head of EU Regulatory and Public Affairs) and Claire Harrop (Senior Associate) provide an update on where we are with open banking, and how different regulators around the globe are approaching this topic. We explore open banking from different perspectives (consumers, incumbent banks, fintechs) and look at the potential expansion into open finance, which extends the principles of open banking.
In 2021, evolving market conditions, including heightened regulatory risk, emergence of new theories of harm, and the continuing economic impact of COVID-19 could alter transaction dynamics and contribute to more – and more contentious – transaction-related antitrust litigation, both with authorities and between merging parties.
In our 11th episode, Jenn Mellott speaks with Linda Martin, Martin Klusmann and Nicholas Frey about how companies can mitigate litigation risk in their transactions with the right transactional toolkit.
The UK Chancellor Rishi Sunak has delivered his second Budget in extraordinary circumstances as the UK continues to deal with the impact of the coronavirus pandemic while also establishing itself outside the EU following the end of the Brexit transition period.
This Budget comes at a time when there are calls for both further economic support measures and a clear fiscal plan to repair the significant deficit in public finances. How has the Chancellor dealt with these competing demands and what tax measures have been announced that businesses need to be aware of?
In this podcast, Josh Critchlow interviews three of our Partners in the London Tax team, Helen Buchanan, Paul Davison and May Smith, on the business tax measures they found the most noteworthy in the Spring Budget 2021, including:
- an increase in the UK’s headline corporation tax rate from 19% to 25% in April 2023;
- the new 130% “super-deduction” aimed at encouraging investment;
- a temporary extension to the carry back rules for trading losses;
- a consultation reviewing the UK’s R&D relief regimes;
- the repeal of the UK’s domestic provisions implementing the EU Interest and Royalties Directive;
- the introduction of reporting rules for digital platforms based on OECD recommendations; and
- reflections on what was missing.
2020 has demonstrated that governments and policymakers are seeking to implement ambitious sustainability goals.
However, it is becoming increasingly clear that corporate action and industry-wide collaboration will be indispensable to tackling environmental and other sustainability challenges on a global basis. In our tenth episode, Jenn Mellott speaks with Ninette Dodoo, Paul van den Berg and Maria Dreher about the role that competition law and policy can and should play in helping companies pursue sustainability initiatives.
In this podcast, Tom Clark and Sharon Grennan consider recent UK enforcement and look ahead to the potential focus for the rest of 2021. A related article is also available.
SPACs are the hottest business story of the year. In the latest episode of our View from the Valley podcast series, Freshfields partners Boris Feldman, Pamela Marcogliese and Michael Levitt are joined by Stanford professor Michael Klausner, one of America’s foremost experts, to discuss the ins and outs of the SPAC craze – from how they perform for investors and targets to whether they’re a likely source of future litigation.
As part of our ongoing review of whistleblowing culture over the years, we’ve gathered the views of over 2,500 individuals in the UK, US, Hong Kong, Germany and France to assess their attitudes towards whistleblowing, and to consider how these have changed since our last survey in 2017.
Our report shows that there has been a general decrease in those who have been involved in whistleblowing, as well as a decline in confidence with regards to support from senior management for those who do blow the whistle.
In this podcast chaired by Stephanie Chiu and Nicola Jones, guest speakers Caroline Stroud, Holly Insley and Boris Feldman explore one of the aspects of this survey – how the #MeToo movement may have changed our attitudes towards whistleblowing. The speakers share their thoughts on the effect of the #MeToo movement on speak-up culture and how #MeToo related reports may require specific handling and a tailored investigation process. They also discuss whether the whistleblowing trends of the survey are indicative of what we should expect in the future and discuss what might be on the horizon, including potential legislative developments in the US.
2020 brought issues related to data, cybersecurity and people and conduct to the fore in unprecedented ways. How can legal and business leaders manage and prioritise these risks in 2021?
In this episode, Ninette Dodoo, Richard Bird and Stephanie Chiu of Freshfields and Kyung Kim of FTI Consulting discuss how to manage risks related to data privacy, cybersecurity and people and conduct. They cover topics ranging from:
- How has data regulation evolved across Asia and what do businesses need to do to navigate the new regulations?
- How should companies develop and implement cybersecurity policies which are both effective and defendable to regulatory bodies?
- How has Covid-19 and the move to remote working impacted conduct risk and what are the logistical challenges of conducting investigations during the pandemic?
In this series of two podcasts our global team discuss why they see data and cyber breaches as the next area of focus for mass claims lawyers and how this trend may play out around the globe. The discussion includes Rachael Annear, Geoff Nicholas and Rhodri Thomas in London, Mark Egeler in Amsterdam, Julie Elmer and Peter Jaffe in Washington DC and Jonathan Wong in Hong Kong. Part 2 will explore the challenges around damages in data and cyber mass claims cases in the US, Europe and Asia.
In this series of two podcasts our global team discuss why they see data and cyber breaches as the next area of focus for mass claims lawyers and how this trend may play out around the globe. The discussion includes Rachael Annear, Geoff Nicholas and Rhodri Thomas in London, Mark Egeler in Amsterdam, Julie Elmer and Peter Jaffe in Washington DC and Jonathan Wong in Hong Kong. Part 1 focuses on the hurdles of establishing liability.
2020 was an unprecedented year of escalating geopolitical tensions and rapidly evolving business challenges. As we move into 2021, the ability to effectively map and respond to risk will remain central to success.
In this episode, Ninette Dodoo, Nabeel Yousef and John Choong discuss how ongoing geopolitical tensions have reshaped risks, recent sanctions developments and the risk of disputes going forward. They provide practical tips for legal and business leaders and share insights on:
- How Asian companies can effectively map risks related to US and China uncoupling and increased global protectionism.
- How the evolving regulatory landscape in the sanctions arena is impacting deal viability.
- How Asia fared when it comes to pandemic related disputes and how the law is developing and adapting.
Antitrust policy and enforcement is now mainstream news: it is front and centre in discussions about large tech players and digital markets, it is a core issue in the debate on sustainability, and it remains a key consideration in global trade negotiations.
This central role for antitrust is expected to continue into 2021, and in our first episode of the year Jenn Mellott speaks with Thomas Janssens and Sarah Jensen about these major trends and developments, and why a sophisticated understanding of the global antitrust environment is more important than ever in 2021.
In this podcast, Martina de Lind van Wijngaarden, Martin Mekat and Jan-Henning Buschfeld discuss legislative developments in the field of mass claims on both a national and European level.
Focal point of this edition of the podcast is the European Directive on representative actions and what impact the Directive will have on Germany and other EU member states. Moreover, the assignment models prevailing in the German market are discussed, including the latest legal trends on this topic and whether these models will be able to compete with the new Directive in Germany.
Sanctions on Russia have evolved significantly in the past six years. Where are sanctions on Russia going with the Biden administration, the US Congress, and other jurisdictions?
In this podcast, Mark Goldberg joins Nabeel Yousef to discuss President-Elect Biden’s approach to Russia based on recent statements, past actions, and appointees, as well as how the US Congress, the executive branch, and other countries might respond.
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Despite the gradual return of employees to the workplace, employers in the United Arab Emirates (UAE) face continuing challenges around improving productivity and compliance with company policies among their remote workers.
Freshfields’ global investigations lawyer Zara Merali in Dubai is joined by Sundaraparipurnan Narayanan from business advisory firm Nexdigm (SKP) and Shiraz Sethi from law firm DWF to discuss the:
- challenges employers are facing;
- regulatory framework, pitfalls and responses; and
- best practices for employers to focus on now.
US international trade policy looked very different in 2020. So what should we expect in 2021? In the latest edition of the Freshfields podcast, Aimen Mir joins Nabeel Yousef to discuss the expected international trade, foreign policy, CFIUS and national security direction under a Biden administration - and the trends to watch in the year ahead.
Competition authorities’ global quest to oversee a greater number of deals involving nascent competition looks set to intensify in the year ahead, making deal-making even more complex. Jenn Mellott speaks with Ninette Dodoo, Jan Rybnicek and Sharon Malhi to discuss the evolution of an increasingly interventionist approach to nascent competition across the US, UK, Europe and Asia and how multi-national companies can best navigate the heightened global scrutiny.
But tech deals aren’t like other types of transactions – their value resides in an unusual combination of assets, and the rapidly evolving antitrust and national security landscape makes them challenging to execute. In this podcast – part of our 2021 board memo series – partners John Fisher, Aimen Mir and Alan Ryan explain what directors need to know.
Board evaluations are a vital way to gauge the health of a company. But what does a good evaluation look like? How are they best implemented? And should you disclose the results? In the latest instalment of our governance mini-series, Pamela Marcogliese and Leza Bieber reveal all.
Few issues have grabbed the attention of investors in recent years quite like human capital management. In episode no. 5 of our governance capsule collection, Pamela Marcogliese, Leza Bieber and Maj Vaseghi discuss why you should be engaging with stakeholders now rather than waiting for proxy season, the role of the board in managing human capital – and whether HCM should be a metric when setting executive compensation.
As more employees are paid in stock – and social media gives everyone a voice - employee activism is on the rise. So what’s the best way to engage with this vital stakeholder group?
In the latest edition of our governance capsule collection, Sarah Solum joins Pamela Marcogliese and Leza Bieber to discuss the tricky topic of intercompany communications.
You may have a great CEO or CFO, but are you prepared if they leave?
In the third instalment of our governance capsule collection, Pamela Marcogliese and Leza Bieber are joined by Lori Goodman to discuss the ins and outs of succession planning. Why is it such a hot issue right now? What does good planning look like? And how should you communicate your progress?
Few people had experience of staging virtual shareholder meetings – then the pandemic struck in the middle of proxy season and everyone had to get up to speed overnight.
In the second episode of our governance mini-series, Pamela Marcogliese and Leza Bieber explore what we’ve learnt – and ask whether the traditional in-person model will ever return.
With so many disclosure requirements to satisfy and an ever-growing roster of stakeholders to inform, it’s becoming increasingly difficult to craft a coherent corporate narrative.
In the first of a new mini-series on governance, partner Pamela Marcogliese and counsel Leza Bieber explain how companies can get on the front foot, from working out what’s material to creating processes that keep everyone on message
Dawn Heath, a partner in our pensions team, is joined by Ali Sallaway, a partner in our global investigations and corporate crime team, to discuss the wider trend of criminalising corporate misconduct, and what we can expect to see in this area in relation to the new criminal offences to be introduced by the Pension Schemes Bill which is currently working through the UK Parliament.
This is part two of our first podcast in the series Navigating the US in which we will dig into the intricacies of dealing with and transacting with Silicon Valley counterparties. Exploring what founders are looking for in potential investors and how to best traverse complex shareholder structures.
The first podcast in our series on navigating complexities for Asian companies in the US, discusses one of the world’s leading centres of innovation: Silicon Valley. This two-part discussion explores the post-election deal environment and how a new administration will impact cross-border investments between Asia and Silicon Valley.
Supply-chain risk has been rising up the boardroom agenda in recent years, with trade wars driving moves to ‘reshore’ production and the development of digital technologies such as AI enabling huge efficiency gains through process optimisation.
The COVID-19 pandemic has brought many of these challenges even more to the fore and led companies to reconsider their approach to supply chain management. Rafique Bachour, Tim Wilkins and Theresa Ehlen discuss these challenges in particular around sustainability and digitisation.
With Joe Biden claiming victory in the US election, our partners from Frankfurt to Shanghai (with stops in Washington, New York and Menlo Park) discuss how the result changes the game for the global tech giants. Will it spark a run of divestitures and break-ups? Is Chinese investment back on the table? Will we see more protections for innovators? And how is the new administration viewed outside the US?
In this podcast, partner Will Thomas in London, and senior associates Natalie Sheehan in London and Amanda Neil in Vienna, outline the applicable legal landscape and examine how ESG issues are being dealt with by arbitral tribunals, legislators and policy makers. They also offer some insights on likely future trends.
As part of our ongoing review of whistleblowing culture over the years, we’ve gathered the views of over 2,500 individuals in the UK, US, Hong Kong, Germany and France to assess their attitudes towards whistleblowing, and to consider how these have changed since our last survey in 2017.
Our report shows that there has been a general decrease in those who have been involved in whistleblowing, as well as a decline in confidence with regards to support from senior management for those who do blow the whistle.
In this podcast chaired by Stephanie Chiu and Nicola Jones, guest speakers Caroline Stroud and Holly Insley explore one of the aspects of this survey – how COVID-19 may have changed our attitudes towards whistleblowing. The speakers share their thoughts on the effect of COVID-19 on the speak-up culture and the number of whistleblowing investigations since the pandemic arose. They also discuss whether the whistleblowing trends of the survey are indicative of what we should expect in the future and the need to revise current whistleblowing procedures in order to align with the possibility of long-term remote working.
Regulators around the world are levying very significant fines on companies that lose personal data. In this podcast, Geoff Nicholas, Kim Zelnick, Giles Pratt and Rachael Annear – who together have advised on some of the biggest data breaches – share the inside track on preparing for and responding to a data crisis, including: dealing with the first 48 hours; co-ordinating regulatory responses globally; notifications and information-sharing with the authorities; mitigating risks, including for data subjects; and the impact on cyber due diligence in M&A transactions. For more information on this as well as other digital and technology-related topics, please visit the Freshfields TQ site.
In this podcast, Simon Duncombe, Doru Gavril, Linda Martin and Anne-Laure Vincent discuss and compare mass claims risks between US and European mechanisms from our recent webinar on ‘Mass claims across the pond - comparing and contrasting risks’, which is part of our global webinar series on class and mass claims challenges.
The next in our series of Asia Essential Antitrust podcasts with our StrongerTogether partner firms in the region, focusses on South Korea. This episode features Freshfields partner Alastair Mordaunt and attorneys from South Korean law firm Kim & Chang, Youngjin Jung, Co-Chair of Kim & Chang's antitrust and competition law practice and Jung Won Hyun who specialises in antitrust investigations and merger notifications to both foreign and domestic firms in Korea.
In this session, our experts cover:
[01:16] – An overview of the merger control regime in South Korea
[09:35] – Enforcement stance and trends of the Korean Fair-Trade Commission (KFTC)
[18:56] – Practical tips for clients on navigating Korea’s merger control regime
[24:00] – Concluding remarks
Julie Elmer, Natalia Gomez, Roman Mallmann and Mark Sansom focus on the mechanisms for controlling mass claims including class certification from our recent webinar on “Globalisation of antitrust mass claims”, which is part of our global webinar series on class and mass claims challenges.
In this podcast in our series on market conduct topics intended for a financial services audience, Tim Mak in Hong Kong, Kim Zelnick in New York and Daniel Travers in Dusseldorf discuss recent developments in market manipulation enforcement, common themes and differences between jurisdictions and the regulatory approach to market abuse more generally.
Employee activism has been making headlines since 2018, when the employees of a large tech company in the US staged a walkout from their employer in a protest at claims of sexual harassment, gender inequality and racism. What has now become a trend in tech is impacting other industries and changing the classic labour relations landscape. The COVID-19 pandemic has not stopped it, although it has slightly changed its focus. In this session, Boris Dzida, David Mendel, Olivia Radin, Sarah Solum and Caroline Stroud discuss the reputational and financial risks for businesses, and explore how employers might best manage employee activism.
The EU framework for the screening of FDI is now fully applicable. Jenn Mellott discusses the political background and practical implications of the new framework with Frank Röhling and Amaryllis Müller.
When structuring transactions and planning deal timetables, deal makers must now consider the impact of increased levels of cooperation between EU member states and the European Commission on investments in certain critical sectors.
Nathalie Colin, Dimitri Lecat, Sabine Prossinger, Patrick Schroeder and Jeroen van Hezewijk summarise our recent webinar on mass claims in Europe, which is part of our global webinar series on class and mass claims challenges, and answer questions we didn't have time to cover during the event.
Done well it’s the key to a successful IPO, but done poorly it can lead to a founder losing control of their business or being unable to attract new investors. Corporate governance is one of the most important considerations for a fast-growing startup, but often isn’t addressed until it’s too late. Kate Cooper in London is joined by fellow partners Sarah Solum and Pamela Marcogliese in Silicon Valley, who explain what founders the world over can learn from the West Coast experience.
In the latest update from Menlo Park, our Silicon Valley founding partners Boris Feldman, Pamela Marcogliese, Maj Vaseghi and Doru Gavril are joined by Alice Greenwell in London to talk people issues. They look at California’s new board diversity legislation and ask whether more states might follow suit, take a deeper dive into the merits of recent diversity-related litigation – and ponder whether the trend towards home working could drive down pay.
Can you trademark software? Will a patent in one jurisdiction protect your idea elsewhere? And what rights can you assert over data? Nothing’s more important than safeguarding what’s valuable in an innovative company, yet it’s surprising how many mis-steps founders make. Here, Partner Richard Bird, principal associate Theresa Ehlen and special counsel Peter Jaffe discuss the most common errors.
There’s never been a better time to shape the debate on digital identity. As the pandemic has accelerated digitalisation for all, digital identity is high on the agenda at a government level, an international level and regulator level. Done properly, digital identity systems could unlock the potential for greater financial inclusion, enable frictionless payments and mitigate the disruptive effects of COVID-19.
In this podcast, part of our 'Fintech in focus' series, Matt O’Callaghan (Head of financial services Asia and co-head of Asia fintech), Cyrus Pocha (Co-head of global fintech) and Theresa Ehlen (Principal Associate specialising in the TMT sector) look at what digital identity could mean for businesses and consumers that are crossing borders, discuss the danger of bias, highlight the importance of data privacy and protection, and consider what firms can do now to make sure new AML systems and regulations strike the right balance.
In this podcast Georgia Dawson, Meredith Kotler, Tom Clark and Elisabeth Weber comment on a few trends in US securities class actions of importance to financial institutions around the world, discuss the impact of regulator-led redress and ADR on mass claims (using the UK as an example), and set out some considerations when using technology to help manage mass claims. These points were covered in our recent webinar on emerging risks and strategic considerations for financial services firms, which is part of our global webinar series on class and mass claims challenges.
The coronavirus pandemic has had a huge impact on the startup financing landscape. In the latest episode of the Freshfields digital podcast, Nigel Gleeson, David Schwintowski and Andrea Basham discuss the additional risks founders and investors now face when raising capital around the world.
This is the first in our series of Asia Essential Antitrust podcasts with our StrongerTogether partner firms in the region, this time focusing on Singapore. This episode features Freshfields partner Alastair Mordaunt and Singapore law firm Allen & Gledhill partners Daren Shiau, co-head of its competition and antitrust practice, and Scott Clements, a leading competition law specialist.
They explore the current competition law landscape in Singapore, giving an overview of the merger control regime and the local competition authority’s current enforcement levels, as well as offering some practical tips on what clients should look out for when navigating through the competition arena.
In the second of a series of regular updates from our team in northern California, Boris Feldman, Sarah Solum, Maj Vaseghi, John Fisher and Doru Gavril take a look at three of the hottest issues in tech and life sciences – diversity, exit options and board pay.
In the first of a series of dispatches from our team in northern California, Boris Feldman, Sarah Solum, Maj Vaseghi, John Fisher and Doru Gavril explore the impact of the COVID crisis on everything from shareholder activism to securities litigation.
The economic hardship caused by COVID-19 has resulted in an increase in firms in financial distress looking for a path forward through M&A. Jenn Mellott speaks with partners Alastair Chapman, Mary Lehner and Tone Oeyen to discuss how enforcement agencies view distressed firm transactions, how the agencies have responded to the unique financial conditions caused by the pandemic and what policies have been introduced to prevent hostile foreign takeovers of critical assets and technologies.
Employers are considering keeping the working from home set-up for some time to come, and (in some cases) possibly for good. There has been a lot of discussion about what that might mean from an oversight perspective, and how it might change employers’ risk profile.
In this session, Ben Morgan, Caroline Stroud, Holly Insley and Olivia Radin consider how companies are approaching their compliance and oversight arrangements and the impact of the new working environment on whistleblowing. They also discuss the possible approach of regulators when it comes to evaluating oversight standards, as well as the challenges that the new working environment holds for in-house lawyers and compliance officers.
Data protection and cybersecurity are gaining more prominence in international arbitration and we expect this to continue, not least because the threat of significant fines has proved real. Welcome industry guidance has recently been published, and we should see increased awareness of personal data and cybersecurity issues as well as heightened efforts to ensure compliance.
In this podcast, partner Patrick Schroeder in Hamburg, and principal associates Niamh Leinwather and Désirée Prantl in Vienna, examine how the proliferation of modern data protection regimes has added complexity to cross-border disputes, pushing arbitration users to increasingly consider data protection obligations in arbitration proceedings.
The COVID-19 pandemic has resulted in rapid changes to the global foreign direct investment landscape as governments re-evaluate which assets will be critical to national security in the future. Many of these changes are here to stay.
Jenn Mellott speaks with partners Michele Davis, Aimen Mir and Hazel Yin about the most significant changes across Europe, the United States and Asia and discuss what deal-makers can do to navigate through this increasingly complex global regulatory landscape.
Apps that show the number of commuters on trains, passenger control systems that make offices look like airports, travellers put in military quarantine camps… as COVID-19 restrictions are eased we share lockdown stories from across the world - and discuss how workplaces are being adapted to allow people to return
The COVID-19 pandemic has caused an unprecedented change in the way we work. As global lockdown measures begin to lift, the question of what the ‘new normal’ will look like is at the forefront of employers’ and employees’ minds. As part of the WorkLife 2.0 series, we will explore the future working landscape, and the challenges and opportunities it presents, through a series of blog posts, briefings and podcasts.
In this session, speakers Timothy Wilkins, Holly Insley, Karin Buzanich-Sommeregger and Oliver Dudok van Heel discuss changing attitudes to working from home, and the challenges employers and employees may face when returning to the workplace.
Competition for assets in the payments space has been fierce in recent years. In our latest podcast, partners Cyrus Pocha, Keir MacLennan and Martin McElwee discuss what’s driving the run of deal activity, what buyers need to look out for – and how to approach antitrust regulators as the sector consolidates.
The US Federal Trade Commission has been highly successful in blocking mergers in court over the past several years, but it recently lost its challenge to the Evonik/PeroxyChem merger. Jenn Mellott speaks with Eric Mahr, Andrew Ewalt, and Laura Onken, members of the Freshfields antitrust team who worked on the litigation, about the case and what businesses should take away from this significant win against the FTC.
Chancellor Rishi Sunak has delivered his first Budget as Chancellor. Freshfields partners Helen Buchanan, Jill Gatehouse and Paul Davison join associate Josh Critchlow to discuss the key takeaways for companies, including the digital services tax, entrepreneurs’ relief, new compliance and disclosure rules and reliefs for intellectual property.
In this podcast, following on from his recent blog post - The turning of the year – UK financial services enforcement trends in 2019 and the year ahead - Tom Clark, a partner in our dispute resolution practice, summarises key themes from recent FCA enforcement activity in the UK and gives an insight into what the future for UK enforcement may hold.
The past few years have seen a renewed interest in vertical merger enforcement in the US. Jenn Mellott speaks with US antitrust partner Tom Ensign and counsel Jan Rybnicek, who break down the most significant investigations and discuss what companies should take away from the draft vertical merger guidelines published by the FTC and DOJ last month.
After an eventful 2019, we look at sanctions and international trade trends to watch for in 2020. In this podcast, Stephanie Brown Cripps joins Nabeel Yousef to discuss Iran-related sanctions, export control restrictions on Huawei and Chinese technology, and the impact of sanctions and trade on transactions.
Leading businesses are rethinking how they manage risk by taking a more holistic approach and focusing on conduct. In this episode, Matthew Bruce, Holly Insley and Bruce McCulloch discuss the increased focus on principles and behaviours, bringing compliance training to life and tactical considerations for overcoming resource constraints.