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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
Following the recent decision of the Court of Appeal in The Pensions Ombudsman v CMG Pension Trustees Ltd & Anor, the Ombudsman stated that it was “disappointed ” that the Court had decided the Ombudsman was not a “competent court” for the purposes of concluding overpayment disputes where recoupment is sought.
On December 20, 2023, the Ombudsman reported on its website that in response to the ruling, the DWP is supporting legislative changes that would formally empower the Ombudsman to bring an outstanding overpayment dispute to an end without the need for a County Court order.
The Ombudsman has created an updated factsheet providing guidance on how overpayment disputes should be managed. In practice it is hoped that this additional step should not prove unduly burdensome, as the role of the County Court here is only to enforce the Ombudsman’s Determination, and not to reconsider the merits of the complaint.
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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