The EU Parliament and Council of the EU adopt their long-awaited Foreign Subsidies Regulation which gives the Commission powers to intervene to tackle foreign subsidies distorting competition in the EU internal market

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EU Commission, Council of the EU Regulation of the European Parliament and of the council on foreign subsidies distorting the internal market, Press release, 16 November 2022

On 28 November 2022, the EU adopted the Foreign Subsidies Regulation, giving the European Commission powers to intervene to tackle foreign subsidies distorting competition in the EU internal market. The FSR, due to apply by mid-2023, will have a major impact on companies that engage in M&A and public tenders in the EU, and which have received financial contributions from non-EU countries. Deal execution will be more complex and public awards more uncertain. Companies now have six months to get ready for the entry into force of the FSR, in particular to map financial contributions received from non-EU countries, or identify situations where they suffer from unfairly subsidised competition, as the case may be. In a nutshell On 28 November 2022, the Council of the European Union

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James Killick, Jérémie Jourdan, Axel P. Schulz, Irina Trichkovska, The EU Parliament and Council of the EU adopt their long-awaited Foreign Subsidies Regulation which gives the Commission powers to intervene to tackle foreign subsidies distorting competition in the EU internal market, 16 novembre 2022, e-Competitions November 2022, Art. N° 109979

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