Author

Sunny Mann

Browsing

The EU-US Trade and Technology Council (“TCC”), set up at the June 2021 EU-US Summit, held its first meeting on 29 September 2021 in Pittsburgh, USA. The objectives of the TCC are to “coordinate approaches to key global technology, economic, and trade issues; and to deepen transatlantic trade and economic relations, basing policies on shared democratic values”. The TCC Inaugural Joint Statement (the “Joint Statement”) discusses outcomes in respect of five key areas including export…

On 23 March 2021, the EU opened a public consultation (the “Consultation”) on its plan to introduce a new mechanism to deter and counter potentially coercive actions by non-EU countries which seek to pressure the EU or its member countries into taking or withdrawing particular policy measures, and which impact the economic and geopolitical interests of the EU and its Member States. According to the EU, the new legal instrument will be designed to “empower…

The UK Government has invited comments on a draft Statement which explains how the Secretary of State’s power to call in acquisitions for review will be used. This Consultation closes on 30 August. Baker McKenzie has identified a number of key issues with the draft Statement that merit consideration: The draft Statement provides that acquisitions in areas of the economy which are “closely linked” to the 17 sectors that are subject to mandatory notification could…

In brief On 20 July 2021, the UK Government announced that the National Security and Investment Act will enter into full force on 4 January 2022. To help businesses prepare for commencement of the regime, the Government also published alongside this announcement a series of further guidance notes and materials. The NSI Act creates a new, self-standing UK investment screening regime on national security grounds, comparable to CFIUS in the US. The Act is extremely…

Following the successful launch of our inaugural virtual Annual Compliance Conference in 2020, attracting close to 2,500 in-house senior legal and compliance professionals from across the world, we will return this year in a virtual format to deliver our cutting-edge insights and guidance on key global compliance issues, as businesses and enforcement agencies transition to a new post-pandemic global compliance and investigations landscape. Held across five weeks from 6 September – 8 October 2021, we…

What are the latest developments? On 20 July 2021, the UK Government announced that the National Security and Investment Act 2021 (“NSI Act” or “Act”) will enter into full force on 4 January 2022. To help businesses and investors prepare for the commencement of the regime, the Government also published alongside this announcement a series of further guidance notes and materials (see here). As mentioned in our previous blog posts on this topic (see here,…

The White House has issued an Executive Order on Addressing the Threat from Securities Investments that Finance Certain Companies of the People’s Republic of China, expanding on the existing ban on investing in certain Chinese companies. This Executive Order addresses the use of Chinese surveillance technology in facilitating human rights abuses and repression around the world. The US will have the power to prohibit US persons investing in Chinese companies that may be seen to…

To highlight recent developments in foreign direct investment restrictions in Germany, Baker McKenzie has published a podcast setting out what businesses should be aware of, and what the German regulator will look for. Produced in partnership with Concurrences, our foreign investment experts Samantha Mobley and Anahita Thoms discuss these developments with Angelika Milger, a member of the Investment Screening team at the German Federal Ministry of Economic Affairs. This is the first in a series…

Chancellor Rishi Sunak will launch a consultation in the coming weeks on a proposal to enable the National Security Council to prevent companies from listing on London’s financial markets over national security concerns. Decisions regarding the eligibility of companies to list in London are currently made by the UK Listing Authority, a part of the Financial Conduct Authority (“FCA”). A Treasury spokesperson confirmed the plan to create a targeted new power to block listings that…

As part of its updated 2020 Industrial Strategy, the EU Commission noted that the pandemic has highlighted the trading bloc’s technological and industrial strategy dependencies, which need to be analysed and addressed as part of Europe’s economic recovery. The Commission identified 137 products out of 5,200 products imported into the EU (representing 6% of the value of the EU’s total import value of goods) on which the EU is highly dependent in notably sensitive sectors.…