The EU Foreign Subsidies Regulation ( FSR ) entered into force on 12 January 2023 and will start to apply from 12 July 2023. Any business wanting to do business in the EU after July could be affected and should prepare now to understand its impact, which could be significant. The FSR aims to protect the EU’s internal market from foreign subsidies which distort competition and create a level playing field. The European Commission ( EC ) is to be given extensive powers to intervene against such potential distortions in relation to any economic activity, and a new notification regime for certain M&A transactions and public tenders, which is independent from current EU/national merger control and foreign direct investment ( FDI ) notification requirements, is to be introduced. This will add significantly to the administrative burden faced by businesses, not only in relation to specific deals and tenders if notification is required, but also on an ongoing basis as maintaining data on subsidies/financial support received will be vital. With less than five months to prepare for the FSR (and slightly longer for the new ex ante notification obligation, which starts to apply from 12 October 2023), the key implications, […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
