In this issue, we look at extended liability for right to work checks, the £28 million fine on Virgin Media for mishandling customer calls and the practical lessons from recent case law on step-in rights and complex outsourcing contracts. 

The Terrorism (Protection of Premises) Act 2025 (often referred to as "Martyn's Law") will require those responsible for certain premises and events to take steps to prepare for potential terrorist attacks and help keep people safe if an attack were to take place. In addition, certain larger premises and events are required to consider their vulnerability to acts of terrorism, and, where appropriate, take reasonably practicable steps to reduce those vulnerabilities.

On 8 October 2026, the FCA published Consultation Paper CP26/35 (the CP) on redemption arrangements for authorised funds investing in illiquid assets. The consultation closes on 11 December 2026.

Third-party litigation funding – whereby an independent funder pays some or all of a party's costs in connection with legal proceedings in exchange for a financial return should the case succeed – has become an established feature of commercial arbitration seated in England & Wales. 

Travers Smith has advised long-standing client Marshall Group on the sale of Marshall Aerospace to global private equity investor Aurelius.

A regular briefing for the alternative asset management industry 

Travers Smith has advised ICG on the launch of Amundi ICG Global Private Equity Secondaries (the Fund), the first product to be developed as part of ICG's collaboration with Amundi, one of Europe's leading asset managers.

The OECD has published the full text of its updated model double tax convention (the Model Treaty), incorporating changes to its guidance, first announced in November 2025, on when a home office of a team member can generate a taxable presence of the foreign business for which they work. Businesses with remote workers will want to ascertain whether the relevant tax authorities will change their practices in line with the new guidance and, if so, confirm that their policies on remote working remain appropriate.

In future years, the UK's retirement housing sector might look back at Summer 2026 as a seminal moment.

The Government's Defence Investment Plan, published this summer, represents one of the most significant shifts in UK defence spending in a generation. Backed by £298 billion of investment over the next four years and built on the vision of the Strategic Defence Review ('SDR'), the plan signals a decisive move toward "warfighting readiness".

The Competition Appeal Tribunal certification judgment in JLP A&A Class Representative Ltd v Apple & Amazon [2026] CAT 75 contains a number of important points for those involved in the UK's collective actions regime and repays careful reading. 

In August, the UK Government announced that it was bringing forward the date for implementing the UK's new subscription contracts regime to January 2027 (it had previously said "Spring 2027"). There are now only 3 months left in which to prepare – and as we explain below, the sooner you start that process, the better.

Pensions Radar is a quarterly listing of expected future changes in UK law affecting work-based pension schemes.

The proliferation of small, dormant pots is an expensive and growing problem. There are currently around 13 million small pots, mostly held in master trusts, expected to rise to 20 million by 2030.