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Today we are launching our new podcast series, Different Voices.

Qatar National Bank (Q.P.S.C.) ("QNB") has secured a decisive victory in proceedings brought against it in the Kings Bench Division of the English High Court concerning allegations – denied by QNB - that it was connected to certain unlawful acts in Syria (KB-2023-001144 Basel Hashwah and Others v Qatar National Bank (Q.P.S.C.) and Others).   

On 3 June 2025, the Financial Reporting Council ("FRC") published the UK Stewardship Code 2026 (the "Code"). The Code is a voluntary framework designed to promote high standards of stewardship among financial market participants, encouraging the responsible allocation, management and oversight of capital. This edition of the Code will replace the UK Stewardship Code 2020 (the "2020 Code") as of 1 January 2026.

Travers Smith LLP has advised longstanding client Livingbridge, as well as management and all other shareholders of TitanHQ on its merger with Bregal Milestone portfolio company Redstor. The combined business, CyberSentriq, will be an integrated cybersecurity and data protection platform purpose-built for Managed Service Providers (MSPs).

Modern slavery and human rights abuses impact countless supply chains across the world every year. Businesses and investors may be exposed to risks arising from such abuses regardless of how far down the supply chain they occur and, in some circumstances, may be under a duty to identify, remediate and prevent further violations.

Adidas, The North Face, Cartier and Victoria's Secret are the most recent names to join the ranks of retailers – Marks & Spencer, Harrods, and the Co-op – to be hit by cyber attacks in recent months. Rich in customer data, with significant resources and a strong reputation to protect, a large retailer is an attractive target for cyber criminals.

Customers in the EU on the receiving end of (often) one-sided cloud services contracts should see improvements in the terms they are offered around switching – or at least have a strong basis to negotiate better terms. From 12 September 2025, the EU's Data Act will apply directly to the provision of "data processing services", principally cloud and edge services, into the EU.

From 6 April 2026, the UK tax treatment of carried interest will be fundamentally reformed, with all carried interest being taxed exclusively as trading income and a bespoke effective tax rate of around 34.1% applying to so-called "qualifying carried interest".

A regular briefing for the alternative asset management industry. 

Travers Smith LLP has advised Investec Direct Lending on the financing of Triple Private Equity's (Triple) acquisition of Legal Benchmarking Group (Legal Benchmarking), a leading provider of data and insights for law firms globally. 

Travers Smith LLP has advised longstanding client Nest Corporation ("Nest"), the trustee of the National Employment Savings Trust, on its €530 million (approximately £450 million) commitment to seed a new infrastructure debt fund — its first investment since becoming an owner of global investment manager IFM Investors ("IFM").

The UK heat network market is growing fast, providing opportunities for both suppliers and property developers/owners looking for low carbon energy solutions.  But what are heat networks, where are they being rolled out and how are they regulated?  And what are the key issues when making contractual arrangements involving heat networks?

The Law Commission's project

Since last summer, the Law Commission has been reviewing the workings of the security of tenure regime within Part II of the Landlord and Tenant Act 1954 (the "LTA 1954"). Its goal was to modernise the regime so that it would become a facilitating framework to support the efficient use of space in high streets and town centres, and to foster a positive relationship between landlords and tenants.

In a landmark decision for the European Commission, Delivery Hero and Glovo have been found to have breached competition law by agreeing not to poach each other's employees, together with exchanging commercially sensitive information and allocating geographic markets between them. Fines totalling Euro 329 million have been imposed.

Travers Smith LLP has announced today the promotion of nine lawyers to its partnership, with effect from 1 July 2025.