The EU has now formally adopted its new Foreign Subsidies Regulation (“FSR”), which will start to apply from mid-2023. The European Commission will shortly be publishing a draft Implementing Regulation, which will set out what must be included in notifications under the FSR and further procedural details. This should help companies focus the due diligence work required in order to comply with the notification obligations and more generally, risk-assess their activities in light of the FSR. Three Intervention Tools As explained in our previous blog post earlier this year, the FSR is intended to “level the playing field” between EU operators and their competitors from non-EU Member States which are not subject to the same kind of strict subsidies disciplines as EU Member States are under
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