![Global rules on foreign direct investment](https://www.nortonrosefulbright.com/-/media/images/nrf/nrfweb/knowledge/publications/us_24355_legal-update--fdi-alert.jpeg?w=265&revision=a5124a65-abf9-40e4-8e96-9df39ffdb212&revision=5250068427347387904&hash=96B456347C3246E5649838DF281C5F5D)
Publication
Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
In mid-March, Attorney General William Barr directed all US Attorneys in every district in the United States to change the priority of their individual offices to focus on the investigation and prosecution of coronavirus-related fraud schemes. Following up, Deputy Attorney General Jeffrey Rosen further directed each US Attorney to appoint a coronavirus fraud coordinator in each federal district. This coordinator will be legal counsel for the federal judicial district on coronavirus issues, direct the prosecution of coronavirus-related crimes and conduct outreach and awareness. In the District of Columbia, Principal Assistant US Attorney Alessio Evangelista has been designated as the coronavirus coordinator. While each of the districts may appoint their own coordinator, the assignment of the Principal Assistant (the second highest position in the office) sends a signal to the rest of the Justice Department of the seriousness of purpose within the DOJ. The effect this will have on the prosecution of other types of crime remains to be seen. COVID-19 is already causing major disruption in courthouses, with criminal grand juries and trials delayed.
The net being cast by DOJ is wide: The Attorney General is urging the public to report accusations of COVID-19-related fraud by contacting the National Center for Disaster Fraud (NCDF) hotline. These include:
In addition, DOJ will be coordinating with other federal agencies and state and local law enforcement offices.
Media interest in coronavirus is intense, and fraud stories are bound to garner attention. The FBI can be expected to take these cases seriously, and thus, the likelihood of investigative subpoenas and interviews regarding allegations of fraud are likely to continue for the conceivable future. Those individuals and organizations trying to find palliative or unusual treatments for disease may find themselves being examined by law enforcement depending on the size and the type of the complaints received. Healthcare companies and other businesses that are involved in COVID-19 responses should consult with counsel before any new initiative or outreach.
Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Publication
Artificial intelligence (AI) raises many intellectual property (IP) issues.
Publication
Taking place across three webinars, our team of experienced lawyers and consultants, along with industry professionals and regulators, explore the latest ESG developments and trends within financial services regulation. This series takes a cross jurisdictional perspective, covering ESG financial services regulation and trends from across the globe.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023