![Global rules on foreign direct investment](https://www.nortonrosefulbright.com/-/media/images/nrf/nrfweb/knowledge/publications/us_24355_legal-update--fdi-alert.jpeg?w=265&revision=a5124a65-abf9-40e4-8e96-9df39ffdb212&revision=5250068427347387904&hash=96B456347C3246E5649838DF281C5F5D)
Publication
Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Australia | Publication | June 2020
We have made a submission to the Parliamentary Joint Committee on Corporations and Financial Services inquiry into litigation funding and the regulation of the class action industry. As a global law firm, our submission draws on our local and international experience in acting in class action proceedings. A number of our Australian partners are experienced litigators and are uniquely placed to address some of the issues raised by the inquiry's Terms of Reference.
We have acted in many significant class actions in Australia in both the Federal Court of Australia and the State Supreme Courts. These include class actions relating to securities, consumer protection, product liability, mass tort and natural disasters, and financial and regulatory services.
We expect there will be a significant increase in the commencement of class actions in Australia over the coming 12 to 24 months. These class actions are likely to include not just shareholder-focused continuous disclosure claims (which we expect to continue notwithstanding the Australian Treasurer’s recently announced six month safe harbour) but also cybersecurity, employment (including workplace health and safety), and broader governance, culture and risk-related claims.
To support a class actions regime that promotes fairness for plaintiffs, class members and defendants, as well as efficiency, certainty and finality in the determination of proceedings and the responsible provision of legal services and funding, we have made the following recommendations to the Parliamentary Joint Committee:
You can request a copy of our submission to the Parliamentary Joint Committee by clicking the link below.
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.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023