Ashurst is bowing out of its last solo financial year in style: £1.15bn in revenue, up 11%, with PEP climbing 15% to £1.59m. That’s ten consecutive years of revenue growth. Australia did pretty well for itself, delivering 10% growth, with Corporate Transactions up 25% after the firm rocketed from 11th to 4th on Mergermarket's 2025 M&A tables. Not a bad final act before the merger becomes official: Point Blank

⚖️ Regulatory: The ACCC has made clear that the influencer economy isn't a regulation-free zone. PhotobookShop copped $39.6k in infringement notices, becoming the first business penalised for undisclosed paid influencer reviews. It instructed influencers on 107 occasions not to reveal they'd received free products, and then edited a commissioned review to cut unflattering comments before posting. Since then, Hismile has been hit with $138.6k in notices for staging "random shopper" videos starring its own employees. For businesses using influencers, make sure you disclose the arrangement: Mallesons

⚖️ Corporate: The Takeovers Panel refused Humm Group's request to replace the Chair of its Independent Board Committee, an IBC established under a Panel undertaking to address insider participation and conflicts concerns. Humm wanted to swap out Ms Dyson, only recently appointed, for Mr Dhawan, who had sat on the Humm board alongside a major shareholder for over 15 years. Two points that weighed against Humm: (1) The Panel's investigation revealed a financial relationship between Dhawan and that shareholder that hadn't been disclosed to the Humm board; (2) Humm also publicly announced the change before seeking the Panel's consent to vary the undertaking: Takeovers Panel

⚖️ Employment: The Fair Work Commission is struggling under record claim volumes, topping 44,000 last financial year, and its own research suggests AI is a significant driver. The concern isn't just volume. The FWC has flagged that AI tools may be generating unrealistically optimistic success predictions, encouraging unmeritorious applications. In response, the government has a new bill which proposes 4 key reforms: scrapping the requirement to determine dismissal before conciliation, empowering staff conciliators to issue certificates, enabling on-the-papers determinations by consent, and, most significantly, allowing Full Bench vexatious litigant orders against repeat unmeritorious claimants: Clayton Utz

Labor got its CGT and negative gearing changes through the Senate, but the price was throwing SMSFs under the bus. To secure the Greens' support, Chalmers agreed to ban self-managed super funds from borrowing to buy residential property. The SMSF Association says no one called them first, and the sector's not happy, given the rules have sat untouched for nearly two decades: ABC, Capital Brief

Clare O'Neil is calling the current housing dip a "normal correction" after prices rose more than 50% since pre-COVID. Tanya Plibersek wants everyone to "take a deep breath." Andrew Bragg isn't buying it, saying Labor pumped prices with cheap deposits and a supply collapse, and Australia now needs a "supply-side revolution": AFR

🛣️ IFM Investors has tipped past 50% in toll road operator Atlas Arteria, extending its $7.4bn takeover bid to 7 July. The offer's sitting at $5.10 a share, up from April's opening bid of $4.75: Bloomberg

🏗️ Builder FDC Construction & Fitout is heading to the ASX at a $969m market cap, with founder Ben Cottle and brother Blake pocketing a combined $240m from the float: AFR