The Freshfields Podcast

Essential Antitrust #44: Redefining the role of antitrust in 2025: our Ten Key Themes forecast

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.

Securing the Digital Future #1: Insights on online safety in the US

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.

Life Sciences x Technology – A conversation with Derek Underwood

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.

No Worse Off #10: 12 Headlines from 2024

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."

Reward(ing) Half Hour: Episode 4 Applying Malus and Clawback in practice

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.

Essential Antitrust #43: EU welcomes Teresa Ribera as new Competition Commissioner: business impact

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.

Well-Caffeinated: What’s Brewing for the 2025 Funds Regulatory Environment?

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”). 

No Worse Off #9: Managing Litigation Risk in Restructurings

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."

Tax Matters: Autumn Budget 2024 – Delivering difficult decisions

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:

• 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;
• Measures designed to 'close the tax gap', including:
  
  • 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
• Other changes to the UK's tax code, including:
  
  • 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.

Essential Antitrust #42: HSR rules changes: how to successfully navigate the new US merger control filing

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.