In this fourth recording in our series focusing on Private Equity investment in professional services firms, Partners Zulon Begum, Corinne Staves and Nick Leale discuss the key regulatory considerations that firms should be thinking about when contemplating PE investment for their firm.

In this video, Zulon, Corinne and Nick discuss:

- How does PE investment reshape law firm ownership? ABS structures are essential, enabling non-lawyer ownership—but they come with increased regulatory scrutiny and risk
 
- What are the key regulatory risks in PE transactions? Post-Axiom, the SRA is laser-focused on client consent, money handling and due diligence to avoid intervention
 
- The impact on a firm's growth strategy: Regulatory complexities may lead to cost and delay, but should not halt the ambitions of a firm or its PE investors. With evolving SRA expectations around acquisitions and client money, firms must plan ahead
 
- How does PE impact firm culture and ethics? Value-driven strategies may put pressure on partners and senior management - potentially increasing the risk of burnout, misconduct or ethical compromise
 
- What role do PE investors play in compliance? The importance of appointing board members with a deep understanding of the legal sector and regulatory environment, enabling effective participation in firm governance and to support robust compliance systems
 
- How are conflicts and confidentiality managed? PE-backed firms must prevent conflicts with investors and between portfolio firms - strong protocols are essential
 
- Is EDI at risk, or can PE drive progress? The SRA demands an inclusive, discrimination-free workplace that promotes fairness and diversity. PE investors can encourage integration of EDI initiatives into business strategies and cultural practices
 
- What are the ongoing compliance obligations post-investment? Serious breaches must be reported promptly and compliance must be embedded in a firm's senior leadership and supported by regular training
 
- What does the future hold for regulation? New guidance on client money management is expected, following the Axiom-Ince consultation and increased scrutiny on mergers, acquisitions and external investments, emphasising the balance between regulatory enforcement and efficiency 

If you would like to discuss any aspect of private equity investment in relation to your firm, or if you have any questions arising from this recording, please contact Partners Zulon Begum, Corinne Staves or Nick Leale.

Private Equity Investment in Law Firms: The Regulatory Landscape

In this fifth video in our series focusing on Private Equity investment in professional services firms, Partner Zulon Begum is joined by special guest Claire Watkins, Partner and Head of the Professional Practices Group at Buzzacott LLP, to discuss the key financial and operational considerations that firms should be thinking about when contemplating PE investment for their firm.

As part of this series, we will be recording a special episode dedicated to answering FAQs about PE investment. If you have any specific questions you would like us to cover, please email them to us via zulon.begum@cm-murray.com.

In this video, Zulon and Claire discuss:

- Which sectors are attracting the most PE interest currently? While accountancy practices are leading, law firms are showing early-stage activity, in particular, smaller firms and boutique practices
 
- What makes accountancy firms so appealing to PE investors? Recurring revenue and regulation-driven services, plus scalable models and predictable income streams are key draws
 
- What opportunities exist for law firms? Scaling up individual firms, funding expansion into new markets and enabling exit strategies for founding partners
 
- How can PE investment support tech and efficiency gains: Enabling scale-up of technology and AI, as well as streamlining volume transactional services
 
- What are the challenges in attracting PE? Law firms may be less prepared for PE investment; financial management and growth planning metrics may need improvement; cultural resistance to reduced autonomy and sometimes less mature governance and performance management in comparison to accountancy firms
 
- What cultural and operational shifts come with PE investment? The move from consensus-based decision-making to performance-driven practices with set KPIs and targets, plus increased pressure on partner autonomy. Positive impacts include better pricing, development of talent and adoption of technology

If you would like to discuss any aspect of private equity investment in relation to your firm, or if you have any questions arising from this recording, please contact Partner Zulon Begum.

Financial and Operational Issues for Firms considering Private Equity Investment

Following the 6th IFSEA International Conference on Executive & Founder Issues in June 2025, we are delighted to share with you a follow up podcast for the session ‘Leading Through Strikes: Executive Strategies for Union Engagement’. Watch the video or listen to the recording here.

In this brilliant discussion, the IFSEA annual conference panellists explore important multijurisdictional issues for executives to understand in a strike situation or labour conflict.
- Jonathan Tuck, Baker McKenzie (UK)
- Carlos Pareja Frade, Augusta (Spain)
- Jennifer Platzkere Snyder, Dilworth Paxson (Philadelphia/NY, USA)
- Chair: Danny Kaufer, Borden Ladner Gervais LLP (Montréal, Canada)

In particular, the panel discuss:
- The differences in frameworks for union formation and industrial action.
 
- How are trade unions changing and what are the implications for executive strategies during labour conflicts?
 
- The boundaries of lawful executive conduct during strikes and the consequences of non-compliance.

Leading Through Strikes: Executive Strategies for Union Engagement - Post-IFSEA Conference Podcast Recording

Following the 6th IFSEA International Conference on Executive & Founder Issues in June 2025, we are delighted to share with you a follow up podcast on the session, ‘Breaking the Silence: “Everyone knew but no one did anything” – Tackling Workplace Harassment and Bullying, and Ineffective Regulation’. Watch the video, listen to the recording or read the transcript.

In this excellent discussion, the IFSEA annual conference panellists examine employer obligations regarding workplace harassment and bullying, as well as the key issues around addressing – and failing to address – misconduct.

- Chair: Beth Hale,CM Murray LLP (UK)
- Andrew Pavlovic, CM Murray LLP (UK)
- Nick Vamos, Peters & Peters (UK)
- Mathilde Houet-Weil, Weil et Associes (France)
- Lori L. Deem, Hughes Socol Piers Resnick & Dym, Ltd (Chicago, USA)

In particular, the panel discuss:
- What responsibilities are placed on the employer in the UK, France and the US?
- When does inaction bear regulatory and/or criminal consequences?
- The ethical and legal implications of using NDAs to conceal repeated wrongdoing.
- Current practices aimed at preventing the hiring of the rolling bad apple.
- How can senior leaders, regulators and governments do better?

Breaking the Silence: “Everyone knew but no one did anything” - Tackling Workplace Harassment and Bullying, and Ineffective Regulation

Following the 6th IFSEA International Conference on Executive & Founder Issues in June 2025, we are delighted to share with you a follow up podcast on the session, ‘Shielding Your Team: Enhancing Safety and Security in the Modern Workplace’. Watch the video, listen to the recording or read the transcript.

In this engaging discussion, the panellists revisit key themes from their session at this year’s IFSEA conference - identifying risks to employee wellbeing, exploring preventative strategies, and considering how organisations can respond effectively when harm occurs.

- Suzanne McKie KC, Farore Law (UK)
- Andre Royer, Borden Ladner Gervais LLP (Canada)
- Anne Davies, Richardson Lissack (UK)
- David Fisher, CM Murray LLP (UK) (Chair) 

In particular, the panel discuss:
- Understanding the organisational impact of personality-affecting disabilities and how adverse behaviour can affect team dynamics and wellbeing
 
- Approaches in the private sector in Canada that are shifting perceptions of mental health
 
- Lessons from workplace tragedy linked to excessive pressure and how leadership can respond to prevent future incidents
 
- Exploring the legal avenues available to employers - including injunctions - when addressing serious misconduct in the workplace

Shielding Your Team: Enhancing Safety and Security in the Modern Workplace - Post-IFSEA Conference Podcast Recording

We are delighted to share with you the recording of our recent webinar, Professional Services in the Age of AI: Regulation, Strategy, and Real-World Impact. 

In this discussion, Anthony Davis (FisherBroyles), Devika Kewalramani, (FisherBroyles), Dr Robert Millard (Cambridge Strategy Group), David Shufflebotham (PepUp Consulting) and Nick Leale (CM Murray LLP) join chair Corinne Staves (CM Murray LLP) to explore the impact of technology on professional services firms, with a particular focus on regulation. 

Topics covered include:
- How is technology reshaping professional services firms? From AI-powered research and disclosure tools to virtual client engagement, technology is now embedded in every aspect of firm strategy and operations.
 
- What are the implications for structure, pricing, and regulation? AI is driving a shift away from traditional leverage models, elevating the role of technologists and challenging the billable hour. Value-based pricing is gaining ground and firms must rethink how they assess and compensate their partners.
 
- What regulatory and ethical risks must firms manage? Competence, confidentiality, and supervision remain central. Firms must develop clear AI policies, invest in training and maintain strong oversight - particularly as regulatory scrutiny increases.
 
- What practical steps should firms take now? Define your AI business case, benchmark tools, train your teams, and document compliance. The next generation of lawyers is already embracing AI - leaders must act now to stay ahead.

This summary was drafted using Microsoft Copilot, as part of our ongoing exploration of how AI can support and enhance professional services.
 
If you would like to discuss any aspect of AI in relation to your firm, or if you have any specific questions arising from this discussion, please contact Partner and non-contentious partnership specialist Corinne Staves, or Partner and leading regulatory law specialist Nick Leale.

For example, CM Murray LLP can assist firms with reviewing their HR, risk management and other policies and/or their terms of business, on changes to governance and compensation systems for partners as a result of the increased adoption of technology and the regulatory implications of the use AI and technology in client service.

Professional Services in the Age of AI: Regulation, Strategy, and Real-World Impact Professional Practices Alliance (PPA) Webinar Recording

In the third and final episode of our podcast series with Emily Kaufer, Senior Director of Human Rights and Harassment at Air Canada, Emma Bartlett, Partner, and Gabrielle Lintott, Senior Associate, at CM Murray LLP, discuss some of the reputational issues at play when it comes to workplace investigations.

In this recording, Emma, Gabrielle and Emily discuss reputational issues in the context of investigations, including cross-border investigations, with a particular focus on:
The potential detrimental impacts on reputation where an organisation fails to respond to allegations of inappropriate workplace conduct or carry out a poorly managed investigation
 
Strategies for addressing and minimising reputational issues and risk
 
Risk management verses crisis management, and dealing with the fallout of an improper investigation and threats to reputation
 
The intricacies of cross border investigations and how cultural considerations might play a role in an investigation process
Listen to the previous episodes in the series below:
Bias in Workplace Investigations
Domestic Violence and Sexual Harassment Related Investigations

If you have any questions regarding this discussion or require advice regarding workplace investigations, please do not hesitate to contact Partner Emma Bartlett, Senior Associate Gabrielle Lintott, or another member of our Investigations Unit.

CM Murray LLP is a leading specialist employment, partnership and regulatory law firm. We are ranked Tier 1 and Band 1 in Legal 500 and Chambers and Partners for Partnership Law and Senior Executives and are recognised as having "a truly exceptional culture. The overwhelming sense that you are in hands of superb experts who are highly compassionate and understand the unique pressures their client has." (Legal 500 UK, 2026).

Legal 500 UK 2026 ranks Partner Emma Bartlett as a Leading Partner in the field of Senior Executives: "Emma has deep experience in negotiation and is a trusted advisor and defender of the rights of her clients. It is her personal and professional character that stands out as distinctive qualities."

Legal 500 UK 2026 recognises Senior Associate Gabrielle Lintott as a Key Lawyer in the field of Employment - Employers: "Gabrielle Lintott is a joy to work with - her instructions are fastidiously prepared and get to the crux of a dispute. She is extremely responsive and hardworking and a real up and coming name in the field."

Reputational Issues in Workplace Investigations - Investigations Podcast

Anonymity in workplace investigations is a double-edged sword: it can protect whistleblowers but also complicate investigations and fairness. In the recording of our recent IFSEA webinar, we were joined by:

- Rachida el Johari, Sagiure Legal, Amsterdam 

- Mathilde Houet Weil, Weil & Associés, Paris

- Colleen Cleary, Simmons & Simmons, Dublin

- Andrew Pavlovic, CM Murray LLP, London

- Emma Bartlett, CM Murray LLP, London (Chair)

The key highlights covered in this webinar include:

Jurisdictional Differences:
- In Ireland, anonymous complaints may not require action, risking procedural issues.
 
- In France, anonymous statements are allowed but must be supported by other evidence; cultural sensitivities are significant.
 
- In the UK, anonymous complaints are accepted if detailed, but pose evidentiary challenges.
 
The Netherlands emphasises fair trial rights, making anonymous reporting complex.
 
Investigator & Regulator Challenges:
- Anonymous reports protect identities but make evidence gathering and transparency harder. Regulators like the SRA and BSB struggle to act on such complaints.
 
Practical Guidance:
- Investigators should build trust, follow clear protocols, and explain the process to all parties. Policies should discourage anonymity where possible, ensuring fair hearings and due process.
 
Bystander Role:
- Employees must be empowered to report misconduct, with clear escalation routes and cultural support.
- Organisations should review their investigation policies to balance confidentiality, fairness, and legal compliance.

If you have any questions relating to this recording or if you would like discuss work place investigations in further detail, please contact Partners Emma Bartlett or Andrew Pavlovic.

Anonymity in Workplace Investigations – Key Legal and Practical Issues   - Webinar Recording

Following the 6th IFSEA International Conference on Executive & Founder Issues in June 2025, we are delighted to share with you a follow up podcast on the session, ‘Navigating Reverse Discrimination: Addressing Concerns of Those Who Feel Diversity Targets are Working Against Them’. Listen to the recording here and see below for further details.

In this brilliant episode, the IFSEA annual conference panellists examine the legal frameworks, workplace practices and cultural contexts that shape evolving debates around equality and inclusion in the UK, Sweden and the US. This is essential listening for senior executives and founders seeking to lead inclusively while mitigating legal and reputational risk.
- Carl-Frederik Hedenström, CFH Law (Sweden) (Chair)
- Claire Dawson, BDBF (UK)
- Camille Olson, Seyfarth Shaw (Chicago & California, USA)

In particular, the panel discuss:
- What can we understand reverse discrimination to mean?
 
- Different jurisdictional approaches to positive action and affirmative action
 
- The ways in which particular contexts, such as political shifts and systemic bias, can influence leadership and employer policies and best practice
 
- How do these conversations underscore the tension between equality of treatment and actual equity in recruitment and representation?
 
- The importance of balancing legal compliance with cultural and reputational considerations

We also thank Regan O’Driscoll of Simmons & Simmons LLP (Ireland), who was unable to join the podcast, but attended as a panellist on the day of the conference and provided excellent insights.

Navigating Reverse Discrimination: Addressing Concerns of Those Who Feel Diversity Targets are Working Against Them

We are delighted to share the tenth episode of our Women in Sport Podcast, where we discuss developments, initiatives, and issues relating to women in sports and the associated legal implications.

In this episode, Partner Emma Bartlett and Associate Solicitor Mitchell Blythe are joined by a special guest, former England and Harlequins rugby player, Shaunagh Brown to discuss the following:

1.	Shaunagh’s sporting journey, from representing England in the hammer throw in the 2014 Commonwealth Games to representing England in the Rugby World Cup Final against New Zealand in 2021.
 
2.	The recent Red Roses historic victory over Canada in the Rugby World Cup Final 2025 at the Allianz Stadium.
 
3.	Being called to Parliament in 2023 to give evidence to the Women & Equalities Committee on sexism in sport.
 
4.	The importance of visibility and role models in sport.
 
5.	The future of women’s rugby and we name our stand-out superstars from the Rugby World Cup 2025. 

The Women in Sport Podcast: Shaunagh Brown, former England and Harlequins rugby player

Welcome to the CM Murray LLP podcast channel where we discuss a wide range of topical issues in relation to partnership and employment law.

CM Murray LLP is a leading partnership, employment and regulatory law firm based in London. 

We advise US and UK law firms and partners, hedge fund and investment management partners, US and other multi-national employers, senior executives and founders on a range of UK partnership and employment law issues.

Breaking the Silence: “Everyone knew but no one did anything” - Tackling Workplace Harassment and Bullying, and Ineffective Regulation

CM Murray LLP

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