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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | July 2022
Further on the subject of pensions dashboards, on July 15, 2022, the DWP published its response to the January 2022 consultation on the draft Pensions Dashboards Regulations 2022 which set out the standards pension schemes will need to meet under the statutory framework.
The changes to be made reflect points made by some of those who responded to the consultation:
Some concerns were raised during the DWP’s consultation about scheme liability for the misuse or misinterpretation of scheme information on dashboards. Consequently, the Pensions Dashboards Programme opened a consultation on July 19, 2022 on the standards of operation on dashboards. The standards cover technical aspects including data formatting, connection processes and data usage guidance.
The PDP has also published a call for input on dashboard design standards, which will set out the requirements for the presentation of pensions data.
The consultation runs until August 30, 2022.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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