In brief On 23 June 2025, the UK government published its Modern Industrial Strategy paper (the “Strategy Paper”). Among other important proposed reforms to corporate governance and regulatory red-tape, the Strategy Paper sets out plans to hold a 12-week consultation period (the “Consultation”) to identify areas of the National Security and Investment Act 2021 (“NSIA”) mandatory notification sector definitions that could be amended to encourage inbound foreign direct investment (“FDI”) to the UK. The Strategy…
On 8 May 2025, the European Parliament adopted an amended proposal to revise the EU Foreign Direct Investment Regulation (Regulation (EU) 2019/452) (the “FDI Regulation”), amending the proposal originally published by the EU Commission and significantly deviating from it in certain important areas. The FDI Regulation revisions will bring into force significant changes to the foreign investment screening landscape across all Member States. It will be essential for investors to seek regulatory advice early in the planning stages of a transaction involving one or more EU Member States in order to formulate a robust FDI regulatory strategy.
In brief The Government of Canada has published the 2025 financial thresholds for pre-closing, “net benefit” review and approval of foreign investment under the Investment Canada Act (“ICA”). The ICA financial thresholds are reviewed annually and have once again increased. Notably, the financial threshold for trade agreement investors that are not state-owned enterprises (“SOE”) has exceeded CAD 2 billion for the first time. Failure to notify and obtain approval for an investment may result in…
In brief Canada has announced two complementary policies that will subject foreign investment in the interactive digital media (“IDM“) sector to enhanced scrutiny under the Investment Canada Act (“ICA“). IDM relates to digital content and/or digital environments where users can participate or collaborate, including certain mobile apps, video games, and virtual reality platforms. The Minister of Innovation, Science and Industry’s policy is intended to stop hostile state-sponsored or state-influenced actors (“SOEs“) from leveraging Canada’s IDM sector to spread…
In brief The Government of Canada has announced the 2024 financial thresholds for pre-merger notification and clearance under the Competition Act, and for pre-closing, “net benefit” review and approval under the Investment Canada Act (“ICA”). While the Competition Act “size of transaction” financial threshold remains the same, the ICA financial thresholds have increased. Significantly, this is the third year in a row that the Competition Act financial threshold has remained unchanged at CAD 93 million in a bid…