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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 | febbraio 2024
On 7 February 2024 the FCA published a letter to all regulated Lloyd's managing agents, London market insurers and Lloyd's and London market brokers and MGAs (dated 6 February 2024), requesting information relating to incidents of non-financial misconduct. Culture and non-financial misconduct clearly remain focus areas for the FCA.
Key points to note from the FCA's letter:
The letter highlights the importance of robust governance and record keeping: firms should ensure that any decisions relating to conduct issues are appropriately challenged and recorded, including any subsequent investigation or consideration relating to the fitness and propriety of senior individuals or with regards to disciplinary action.
Firms have until COB 5 March 2024 to respond to the survey and should get in touch with the FCA as soon as possible if for any reason they may not be able to provide all of the information requested, or will not be able to do so by the stipulated deadline.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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