On 25 February 2025, the UK Government finally published the first UK Sustainability Reporting Standards, the UK SRS. The UK said at the Glasgow COP in 2021 that it would be an early adopter of ISSB and yet it has taken nearly three years after publication of the ISSB standards for the Government to endorse them, and far from being the first world economy to do so, the UK joins the ranks of more than 35 countries bringing ISSB sustainability standards into their national frameworks.

The past few months have proved more than ever that predicting tomorrow's headline is a fool's game.  While that illustrates the uncertainty of today's world, it also serves as a timely reminder that short-term, reactive strategies rarely maximise opportunities. That is never more true than on sustainability issues, where striking the balance between immediate and longer-term priorities is the name of the game.

Meeting the growing demand for data centres is complex and challenging enough, without having to contend with the extensive range of acronyms and technical vocabulary that are often used when discussing the sector.  Our glossary of data centre-related terminology is intended to provide a useful resource to help cut through the jargon.

Travers Smith LLP has advised Fundsmith, the London-based investment manager, on the c.£680m rollover of assets from Smithson Investment Trust into Smithson Equity Fund ("SEF").

Recent months have thrown automotive supply chain risks into the spotlight, with the Jaguar Land Rover (JLR) cyber attack and the collapse of First Brands Group providing stark reminders that supply disruptions can strike from multiple fronts and have wide-ranging consequences.

The EMIR clearing thresholds and calculation methodology are being changed.

On 20 February 2026, the US Supreme Court ruled that a wide range of tariffs imposed by President Trump in 2025 were unlawful. In response, he has stated that he intends to impose 15% tariffs under a different statute.

Travers Smith LLP has advised Delancey, a UK-focused property and real estate infrastructure asset and investment manager, on the launch of a new specialist real estate credit strategy.

The Dryrobe Limited v Caesr Group Limited (t/a D-Robe Outdoors) judgment handed down late last year refers to the "relentless efforts" made by Dryrobe® to monitor and police the use of its brand. These efforts were not only crucial to Dryrobe®'s successful infringement claims against D-Robe, but also to its successful defence against counterclaims that Dryrobe®'s trade marks should be invalidated or revoked on the basis that the terms "dryrobe" and "dry robe" had become generic, common names for the product in question (think "aspirin" and "escalator" for previous examples of this). This briefing explores the practical lessons that brand-conscious businesses can learn from the pro-active brand protection strategy implemented by Dryrobe®.

The Institutional Limited Partners Association guidance on Continuation Funds (“CFs”) landed last month and, whilst some of what they describe reflects the operation of well run processes already being undertaken, these guidelines seek to address “growing LP frustrations” and set out principles GPs and LPs should follow to reduce the perceived and actual misalignment of interests in deals which are, by their very nature, conflicted.

NAV backed leverage involves fund level borrowing against the net asset value of the portfolio

A vehicle capitalised by a secondary buyer and managed by the existing GP acquires one or more assets from the existing fund.

The secondaries market has evolved rapidly in recent years and continues to grow and diversify, providing private market investors with a wide range of liquidity options.

Structuring a sale of an interest or a portfolio of interests from an existing LP to a secondary buyer is typically the simplest form of secondary structuring, and remains an important feature in the secondaries market.

UK sanctions regulation remains a highly fluid area of law and enforcement practice. This update provides a summary of some notable recent developments, including significant (and in some cases novel) changes to the civil penalty enforcement landscape following the Office of Financial Sanctions Implementation's ("OFSI") public consultation - which will broadly make it easier for OFSI to punish smaller breaches and increase the amount it may impose for more significant breaches – as well as the implications of OFSI's new (and welcome) consultation on the vexed issue of ownership and control.