In the next episode of our regulatory podcast ReguLaw, Partner and Regulatory specialist, Andrew Pavlovic, and Associate, Liz Pearson are joined by Michael Evans of Byfield. Byfield are market leaders in providing reputation counsel to law firms and individuals facing regulatory investigations and proceedings and Michael has significant experience in this area. 

Andrew, Liz and Michael discuss how firms and individuals can attempt to manage the consequences of an SRA investigation and potential SDT prosecution at various stages of the process, including:

- The investigative stage – the potential for publication at this early stage and the preparatory steps that firms and individuals can take;
 
- The referral stage – how to manage concerns about the impact of publicity on mental/physical health and how individuals/firms can handle the unpredictability of the timing of publication on the SRA’s website;
 
- The hearing - the SDT’s new Automatic Disclosure Policy, and the impact this is likely to have on the press coverage of proceedings going forwards.

We hope you enjoyed this episode of ReguLaw. If you have any questions or would like to feature as a special guest in a future episode, please get in touch with Partner Andrew Pavlovic.

Navigating Reputational Risks in SRA Investigation: ReguLaw Podcast with special guest Michael Evans of Byfield

In this third discussion in our series focusing on Private Equity investment in professional services firms, Managing Partner Clare Murray and Partners Corinne Staves and Zulon Begum discuss the key considerations in relation to governance that firms should be thinking about when contemplating PE investment for their firm. 

In this discussion, Clare, Corinne and Zulon cover:

- Current law firm governance structures: What are typical governance models? Smaller firms tend to rely on partner consensus, while larger firms typically delegate authority to management or executive board. Fundamental decisions - such as mergers, capital events and partner admissions/exits - usually remain subject to partner approval. 
 
- The governance changes introduced by PE investment: What specific governance changes might PE investors expect?
 
- Cultural impact and partner dynamics: Is your firm culturally ready to shift from an owner-manger model to accept investor involvement? What challenges can arise from unanimity clauses, and how can leadership manage the threats sometimes posed by dissenting partners? 
 
- How to prepare for PE investment: What are the key steps for firms to follow before seeking investment, and how can they mitigate governance risks?
 
- Impact on talent retention and recruitment: Does governance affect a firm's talent strategy? What attracts talent to a PE-backed firm over others?
 
- Top tips for law firm leaders considering PE investment: What should leaders assess before proceeding? How can governance changes be aligned with long-term objectives?

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 Managing Partner Clare Murray, or Partners Corinne Staves or Zulon Begum.

Governance Issues for Firms considering Private Equity Investment

In the next episode of our regulatory podcast ReguLaw, Partner and Regulatory specialist, Andrew Pavlovic, and Associate, Liz Pearson are joined by Adam Sher of Fountain Court Chambers. Adam has a broad commercial practice, but has a particular interest in all aspects of legal professional privilege. Adam has been involved in a number of important decisions in this area and frequently speaks and writes on the topic.

In this episode Andrew, Liz and Adam discuss:

- The concept of legal privilege and how it arises in SRA investigations, including by reference to the SDT case of Joel Woolf.
 
- The SRA’s contention that it can compel the production of privileged correspondence between a solicitor under investigation and his/her client.
 
- The bases for the SRA’s contentions and whether they stand up to scrutiny, including by reference to the case of the Financial Reporting Council v Sports Direct International plc.
 
- How firms/individuals are currently dealing with this issue in practice.
 
- A call to arms for a test case so the SRA’s position can be subject to further scrutiny.

We hope you enjoyed this episode of ReguLaw. If you have any questions or would like to feature as a special guest in a future episode, please get in touch with Partner Andrew Pavlovic.

Legal Privilege and SRA Investigations Unpacked: ReguLaw Podcast

In this second in our series focusing on the key issues surrounding partner performance in law firms, Partners Zulon Begum and David Fisher are joined by special guests Nick Jarrett-Kerr and Jonathan Middleburgh from leading law firm consultancy, Edge International, and authors of the book Managing Partner Performance: Strategies for Transforming Underperforming Partners.

In this recording, The One With the Squabbling Partners, Zulon, David, Nick and Jonathan discuss:

- Why do partner conflicts really happen? Often disputes stem from more than just a clash of personalities; leadership transitions, strategic shifts and remuneration changes can all play a role
 
- The early, and sometimes subtle, warning signs of tension to look out for
 
- The impact on firm culture - leading to associate dissatisfaction, reduced engagement and sometimes partner exits
 
- Financial performance isn't the only metric to measure - low morale and ineffective governance can have undermine long-term success
 
- The importance of open conversations, 360-feedback and mentoring in addressing issues before they escalate
 
- Managing partner exits carefully to avoid legal and reputational risks - the importance of clear policies and procedures 
 
- Preventative measures: Establishing a strong firm culture, partner behaviour frameworks, clear governance structures and open communication are key
 
- The crucial role of leadership in modelling behaviour, setting culture and fostering openness to feedback within the firm



Managing Partner Performance: The One with the Squabbling Partners

In this Ten-Minute Talk, Senior Partner Sarah Chilton and Senior Associate Wonu Sanda discuss mandatory retirement ages (MRAs) in partnerships and takeaways from the Scott v Walker Morris LLP case that has reignited interest in this topic.

If you are a partner facing a mandatory retirement policy or a firm leader wanting a quick overview of this area, this is a must listen. Key discussion points from this Ten-Minute Talk include:

- What are the MRA trends we are seeing in firms?
 
- Can firms really force partners to retire and can a partner challenge an MRA?
 
- How to determine if an MRA crosses the line into discrimination
 
- What evidence is needed to justify an MRA and lessons from the Walker Morris LLP case.
 
- Are there better alternatives to MRAs and do they carry the same discrimination risks?
 
- Practical strategies for partners and partnerships navigating this complex issue.

If you would like to discuss any aspect of mandatory retirement, or if you have any questions arising from this recording, please contact Senior Partner Sarah Chilton, Senior Associate Wonu Sanda or Managing Partner Clare Murray.

A Partner 101 to Mandatory Retirement Ages and Age Discrimination within Partnerships: Ten-Minute

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

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.

Managing Partner Performance: The One with the Squabbling Partners

CM Murray LLP

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