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Greece
The applicable legislation establishing a national screening mechanism for foreign direct investments (FDI) and implementing Regulation (EU) 2019/452 in Greece is Law 5202/2025, which was adopted on 22 May 2025 (Greek FDI Law).
New DB funding code gets provisional September 2023 operational date
United Kingdom | Publication | June 2022
The Pensions Regulator has confirmed that it expects the long-awaited DB funding code to be operational from September 2023. The new code will be forward-looking, affecting schemes with valuation effective dates on or after its commencement date.
In its corporate plan for 2022 – 2024, the Regulator explains that it plans to launch a second consultation on the code in autumn 2022. However, this is on the basis that the DWP first holds its own consultation on draft funding and investment regulations in spring 2022.
It is also possible that the Regulator will undertake a regulatory initiative focusing on scheme management of risk and resulting covenant strength before the code becomes operational.
The Regulator cited the need to “develop the right shape” for the code to explain the previous delays to the second consultation – the timings in the corporate plan are themselves subject to change and it remains to be seen whether there will be any further lengthening of the timetable.
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The UK Government’s Department for Transport (the DfT) has published its Maritime Decarbonisation Strategy, setting out its plan for decarbonising maritime and new decarbonisation goals for the UK domestic maritime sector.
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Privy Council confirms burden of proof regarding duty to achieve best price reasonably obtainable rests with the mortgagor
On 29 May 2025, in Finlayson v Caterpillar Financial Services Corp [2025] UKPC 24 (The Bahamas), the Judicial Committee of the Privy Council of the United Kingdom (the Privy Council) heard the appeal of Mr Garet O Finlayson and Mr Mark Finlayson (the Appellants) following the Supreme Court of the Bahamas and the Court of Appeal of the Bahamas finding in favour of the respondent, Caterpillar Financial Services Corporation (the Respondent).
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