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Publication
In this edition of Regulation Around the World we review the position regarding beneficial ownership registers which has come into the spotlight following work by the Financial Action Task Force and the introduction of reforms in a number of jurisdictions.
Publication
The Financial Services and Markets Bill (FSM Bill), which was laid in front of Parliament in July 2022 and is expected to be finalised in the coming months, includes the introduction of a new designated activities regime (DAR).
Publication
Among the documents that the Government published last December as part of its Edinburgh reforms was a consultation paper on reforming the UK’s Consumer Credit Act 1974 (CCA 1974).
Publication
The European Union’s Foreign Subsidies Regulation (the FSR) entered into force on 12 January 2023 and creates a new regime aimed at combating distortions of competition on the EU internal market caused by foreign subsidies. It imposes mandatory notification and approval requirements for acquisitions of significant EU businesses and large EU public tenders, and gives the European Commission (EC) extensive powers to launch ex officio investigations. The notification requirements go live on 12 October 2023.
Publication
The European Commission’s (the “Commission’s”) 1997 notice on the definition of relevant market for purposes of competition law (the “1997 Notice”) is now more than 25 years old. In light of significant developments in both decisional practice and market dynamics, the Commission is updating the 1997 notice. The draft revised notice (the “Draft Notice”) was published for comments in November 2022, with the Draft Notice expected to be finalised in the third quarter of 2023.
© Norton Rose Fulbright LLP 2023
