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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 | May 2024
The Regulator’s Chief Executive has told the industry that schemes must get the basics right on data quality to deliver on key areas such as pensions dashboards and value for money.
A press release issued on May 22, 2024, summarises Nausicaa Delfas’ keynote speech at Professional Pensions Live, in which she set out the Regulator’s roadmap for pensions, which “drives value for DC savers, security for DB members and higher standards of trusteeship for all.”
Ms Delfas stated that regulatory compliance is not optional and that there will be a significant change in the Regulator’s enforcement approach to ensure schemes have high quality data and deliver value for members. With savers soon being able to interact with their personal data through pensions dashboards and the value for money framework, the Regulator plans to engage hundreds of schemes and will ask them to account for how they are measuring and improving their data. Action will be taken where trustees fail to meet the Regulator’s expectations.
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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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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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