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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 Kingdom | Publication | June 2024
The latest pension schemes newsletter was published on May 30, 2024, and includes a link to a new online tool for savers to check whether they can apply for a transitional tax-free amount certificate, where they used some of their lifetime allowance before April 6, 2024.
Some members may opt for one of the new certificates where they crystallised benefits at a time when the lifetime allowance was lower than £1,073,100. The newsletter also notes that the certificate must meet certain statutory requirements and should not be issued or dated before April 6, 2024.
The newsletter also sets out further reporting reminders for administrators, as well as seeking participants in the development of HMRC's lifetime allowance protection look-up service when it moves to the new Managing pension schemes service in 2025. HMRC plans to extend the service so that it covers lifetime allowance enhancements as well as protections.Publication
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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In the recent decision of Euronav Shipping NV (Euronav) v Black Swan Petroleum DMCC (BSP) [2024] EWHC 986 (Comm) (the Judgment), the English Commercial Court has underscored the role of comity in international disputes.
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