The UK Competition Authority drafts guidance on its powers and procedures regarding foreign direct investments

Key takeaways FDI rules in the UK have recently been tightened in the context of the COVID-19 pandemic. The UK can now intervene in transactions on the grounds of public health emergencies. Also, lower jurisdictional thresholds apply to transactions relating to artificial intelligence, cryptographic authentication and advanced materials. A broader FDI reform is forthcoming in the UK. The new notification system may be similar to CFIUS in the US. The Bill is yet to be published; some reports say this may happen in the next few weeks. The EU FDI Regulation, which entered into full effect on 11 October, does not apply to the UK. The UK has become one of the latest in a line of countries around the world to tighten FDI screening rules in the context of the COVID-19 pandemic. The

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Alec J. Burnside, Marjolein De Backer, Michael Okkonen, Adam Levin, Christopher Field, Douglas Getter, The UK Competition Authority drafts guidance on its powers and procedures regarding foreign direct investments, 16 September 2020, e-Competitions Foreign Investment, Art. N° 97397

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