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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 | January 2024
On December 14, 2023, the PPF published its final levy rules for 2024/25 following its consultation in September.
In the accompanying Policy Statement, the PPF confirmed a 50 per cent reduction in its target levy collection to £100m next year, down from £200m in 2023/24. In its September consultation, the PPF explained that the current law imposes a limit of 25 per cent year-on-year increases to the levy target. As a result, it was required to set a minimum levy now so that it would be able to charge a material levy in the future (if necessary), without relying on legislative change.
Almost all respondents considered that legislation should be changed as soon as possible to allow the PPF to move to a much lower, or even zero, levy. The PPF has shared these responses with the DWP who will consider the points raised and expects to legislate as soon as parliamentary time allows.
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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