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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 2022
Statutory guidance on the preparation of implementation statements has been issued following a consultation that closed earlier this year. The new statutory guidance will apply to implementation statements prepared in respect of any scheme year ending on or after October 1, 2022.
Key points to note include that additional information on the voting behaviour and policies of asset managers will be required, including more detailed explanations of how these align with the scheme’s stewardship policies and how managers are monitored by trustees.
In addition to the statutory guidance that must be complied with, non-statutory guidance on the preparation of the statement of investment principles has also been released alongside this – trustees should have regard to this as good practice when updating their SIP.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Publication
The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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