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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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United States | Publication | March 2020
Updated: March 30, 2020
As the US reacts and adjusts to the developing COVID-19 (coronavirus) situation, the two federal antitrust agencies – the Federal Trade Commission and the US Department of Justice Antitrust Division – have revised certain rules and procedures to their civil merger investigation processes to address these new challenges.
The FTC and DOJ have shifted most personnel to remote work arrangements, but agency staff have demonstrated a willingness to be reasonable and accommodating as both the agencies and merging parties navigate the developing impacts of COVID-19. The agencies are in the process of testing the full capacity of their remote work systems. Although our antitrust lawyers have received no indication this is the case, should agency IT systems be unable to support remote access volumes, agency staff may be forced to triage workload to accommodate system limitations. The FTC has indicated it will modify timing agreements where “an unmodified time period does not allow [the FTC] to address competitive concerns.”1 Similarly, the DOJ has indicated a willingness to “revisit its timing agreements with merging parties in light of further developments.” 2
Norton Rose Fulbright’s antitrust and competition team provides the following update regarding the state of US antitrust transaction reviews.
Publication
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 private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
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