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An amendment to the Austrian Competition Act, which entered into force on 10 September 2021, requires the Austrian Competition Authority to share all merger control filings it receives with the Ministry for Digital and Economic Affairs (BMDW), which is the competent authority for foreign investment review in Austria. This new measure is aimed at strengthening the enforcement of foreign investment review in Austria, by allowing the BMDW to screen merger control filings with regard to potential foreign investment…

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…

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…

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…

The German Government has further strengthened its FIR regime on 30 April 2021. This amendment is – for now – the last part of a series of three significant amendments, each further strengthening the German FIR regime and adapting it to the EU Framework Screening Regulation. Three modifications are especially notable as they will be highly relevant in practice: Firstly, the amendment drastically extends the scope of transactions that are subject to mandatory notification requirements.…

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.…

On 5 May 2021, the European Commission (Commission) published a proposed Regulation, along with an impact assessment report, aiming to address potential distortions caused by foreign subsidies in the Single Market (the Proposed Regulation). The Proposed Regulation as drafted introduces an additional regulatory requirement for companies doing business in Europe. Inevitably, it will increase the regulatory risk and burden for companies that are active in the EU and have received foreign (i.e. non-EU) subsides. Under…

1. Overview On 18 December 2020, the Italian Government issued implementing rules identifying which assets within the sectors listed in the EU FDI Regulation will be deemed “strategic” for Italian foreign investment review (FIR) purposes. These implementing rules will enter into force on 14 January 2021 (New Implementing Rules). The EU FDI Regulation, which became fully operational on 11 October 2020, specifies certain factors and sectors that Member States may take into consideration when deciding…

On 30 December 2020, the EU and China reached an agreement “in principle” for a new EU-China Comprehensive Agreement on Investment (“CAI”) (see our previous update here). The CAI concludes seven years of investment negotiations, that begun in October 2013, and is expected to come into force later this year. In its press release (see here), the EU stated that the CAI was the “most ambitious agreement that China has ever concluded with a third…

Recent media reports indicate that the EU and China are making progress in long-running negotiations towards a deal to remove barriers to foreign investment. Agreement may potentially be reached by the end of 2020, after seven years of often difficult talks. Negotiations regarding an EU-China investment agreement initially kicked off in 2013. The aim of the agreement is to provide certainty, protection and predictable market access for EU and China investors, with the key sticking…