Publication
Ireland
On 31 October 2023, the Screening of Third Country Transactions Act 2023 (the “Act”), which establishes a new foreign direct investment ("FDI") screening regime in Ireland, was enacted.
United Kingdom | Publication | February 2023
The Regulator has published a Memorandum of understanding dated February 7, 2023, with the DWP in relation to the prosecution of the criminal offences introduced under the Pension Schemes Act 2021 (avoidance of employer debt and conduct putting at risk accrued scheme benefits).
The MoU provides a framework for co-operation and co-ordination between the two bodies. It sets out their respective roles and the approach to investigation and exchange of information. Operating under a general principle of “no duplication”, while both the Secretary of State and the Regulator are designated prosecutors for the criminal offences, it is expected that the Regulator will perform that role.
The customary roles of the DWP and the Regulator were set out in a Tripartite MoU between the DWP, the Regulator and the PPF dated February 2008. In the event of any conflict between the Tripartite MoU as it applies between DWP and the Regulator, and the new MoU, the Tripartite MoU takes precedence.
Comment
The MoU provides helpful clarity on the prosecution position.
Publication
On 31 October 2023, the Screening of Third Country Transactions Act 2023 (the “Act”), which establishes a new foreign direct investment ("FDI") screening regime in Ireland, was enacted.
Publication
The EU Foreign Subsidies Regulation, or FSR, is intended to prevent or remedy distortions of the EU internal market caused by “foreign” – meaning non-EU – subsidies benefitting companies active in the EU.
Publication
The conventional wisdom is that ‘securitisation caused the great financial crisis’ (GFC). A further piece of conventional wisdom is that this was due to the misalignment of incentives between securitisation originators and securitisation investors . This conventional wisdom in turn drove much of the regulation of securitisation we now have.
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