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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 States | Publication | December 28, 2021
The US Supreme Court has scheduled one hour for oral arguments on January 7 to address OSHA's COVID "vaccine or test" Emergency Temporary Standard (ETS). The Court will also hear arguments challenging the earlier Centers for Medicare & Medicaid Services' vaccination requirement for healthcare workers.
Multiple procedural and substantive/Constitutional challenges to the ETS have been filed by states' Attorneys General, trade associations, employers, labor unions and others. At the current stage, the Supreme Court could reinstitute a stay on enforcement of the ETS by OSHA pending further legal proceedings or could allow OSHA to proceed.
The Supreme Court is considering challenges to the Sixth Circuit Court of Appeals December 17 decision dissolving an earlier stay implemented by the Fifth Circuit. The Sixth Circuit was assigned by random lottery to consider all legal challenges to the ETS filed in the various circuit courts. In dissolving the stay, the majority, in a 2-1 decision, determined that OSHA was likely to prevail on the challenges. No final rulings on any have been issued.
If permitted to stand, the ETS requires employers with 100-plus employees to either develop and enforce a mandatory COVID vaccination policy or provide workers with the choice to get vaccinated or undergo weekly testing.
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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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