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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 | September 2023
On September 11, 2023, the PPF published its consultation on the 2024/25 levy rules. Owing to the PPF’s “very strong financial position”, the consultation reveals reduction of around 50 per cent from the 2023/24 year to £100m of the levy estimate in 2024/25.
The levy that the PPF aims to collect has been reduced by almost 85 per cent since 2020/21. The PPF’s intention is to maintain collection of an annual levy of around £100m in the longer term due to restrictions imposed by legislation to protect levy payers from sharp future increases. The consultation closes at 5pm on October 30, 2023.
Former pensions Secretary, Sir Steve Webb, has called for a change in the law to give the PPF greater flexibility. This would allow it to reduce the levy at a time when PPF funding is in healthy shape but with the reassurance that the levy could be raised if the situation deteriorated.
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.
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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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