Publication
Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | February 2023
The return now follows the consultation proposals and includes a new tier-focussed section based on total liabilities in the last s179 valuation. The amount of information schemes are required to provide is assessed on the following asset tiers:
Tiers 2 and 3 are required to provide more detailed information on the bonds and equities held by the scheme. Tier 3 must also provide information on risk factors in line with PPF rules. The Regulator states that this information will help it assess a scheme's investment risk more accurately and provide the PPF with more detailed information to calculate the levy invoice. The new asset information will need to be collated and submitted to the Regulator before the March 31, 2023, deadline, and trustees will need to discuss these new requirements with their investment advisers. The Regulator will also conduct an exercise this year to check whether schemes carry out their duties to publish the statement of investment principles and implementation statements. It asks schemes to ensure that they respond to the relevant questions in the return on environmental, social and governance and climate change.
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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