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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 | October 18, 2021
On October 19, federal OSHA announced that Arizona, Utah and South Carolina could lose their state-based authority to oversee workplace safety due to their failure to adopt by July 2, 2021 certain COVID-19 rules relating to healthcare facilities. These are three of the 22 federally-approved state OSHA programs which are required to follow at least federal regulations.
In making its threat, OSHA cites its June 2021 rule-making which requires the use of protective gear, face masks, social distancing, and other safety measures at healthcare facilities where COVID-19 positive patients are being treated. OSHA intends to publish a notice in the Federal Register announcing its proposal to revoke approval of the three states’ OSHA programs. There will be a 35-day period for comment before the proposal is finalized.
In response, Arizona Gov. Doug Ducey stated the move is "nothing short of a political stunt and desperate power grab,” noting further that the state “is actively engaged in a public input process, encouraging Arizonans from every corner of the state to participate, and now the Biden administration is attempting to silence input from citizens and stakeholders alike.”
It is expected that all three states will pursue injunctive relief in court should the federal proposal materialize.
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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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