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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 | August 2023
Nausicaa Delfas, newly-appointed Chief Executive of the Regulator, has warned that UK pension fund trustees must consider increasing the range of their investments, including in start-ups or other illiquid assets, or face “robust” intervention.
In an interview with the Financial Times, Ms Delfas said that DC pension trustees must consider more complex investments for their savers, suggesting that otherwise such schemes should wind up or consolidate.
She commented: “Trustees have a duty to savers to act in their best interests. That means properly considering the full range of investment options... The challenge of the last decade was how to get people saving. And now the challenge for us is how do we make sure that they get the right value from their savings.”
It is unclear how the Regulator plans to monitor trustees’ consideration of such investments and the action it plans to take if a sufficiently broad approach is not taken.
Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Publication
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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The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
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