The UK Competition and Markets Authority (CMA) recently published an update paper outlining its concerns with AI foundation models (FMs). The CMA’s September 2023 initial Report on FMs set out its early views on how FMs...more
The UK government recently issued a Call for Evidence seeking input from stakeholders regarding potential changes to how it enforces the National Security and Investment Act (NSIA), which enables the UK government to...more
The UK Competition and Markets Authority (CMA) recently published its initial Report on AI Foundation Models (the FM Report), which sets out the CMA’s early views on how foundation models (FMs) are developed and deployed as...more
For the period between 1 April 2022 and 31 March 2023, the UK government received 866 notifications under its investment screening regime, 93% of which were cleared within 30 working days. The government issued final orders...more
Following feedback on the first edition of the National Security and Investment Act 2021 (NSI Act) market guidance, a recently published second edition clarifies aspects of the NSI Act for businesses falling within its scope....more
The UK’s national security and investment regime came into effect on 4 January 2022. On 16 June, the UK government published its first report on the operation of the regime for the period between 4 January and 31 March...more
Two major transactions have recently faced headwinds in Germany and the United Kingdom, jurisdictions traditionally perceived as investor friendly. Specifically, Taiwanese-based investor GlobalWafers Co. Ltd. failed to obtain...more
The UK Competition and Markets Authority updated its guidance on the merger control regime in the United Kingdom on 4 January 2022—the same day the National Security and Investment Act 2021 came into effect. The updated...more
The UK government announced on 20 July that the National Security and Investment Act will enter into force on 4 January 2022. This act introduces mandatory filings for certain investments raising national security concerns,...more
The UK National Security and Investment Act 2021 (NSI Act) received royal assent on 29 April 2021. Expected to come into force in late 2021, the NSI Act will introduce a standalone UK foreign direct investment and national...more
In response to delayed EU shipments of certain COVID-19 vaccines to the European Union, the European Commission (Commission) passed on 29 January 2021 Regulation 2021/111 (Export Authorization Regulation) which is in force...more
The proposed regime is a huge departure for the United Kingdom, since it introduces mandatory filings for certain investments raising a national security concern, while it also gives the UK government extensive call-in powers...more
The UK government and the Competition and Markets Authority (CMA) have announced the withdrawal of draft guidance on the CMA’s powers and procedures with respect to enforcing an EU regulation for screening foreign direct...more
As noted in our recent LawFlashes, New Powers for UK Government in Transactions Impacting Public Health Emergencies and National Security and Potential UK Reforms Could Increase Screening of Certain Foreign Takeovers,...more
The UK government passed reforms on 21 July 2020 lowering the thresholds to intervene in mergers and acquisitions considered relevant to UK national security in the artificial intelligence, cryptographic authentication, and...more
New reforms have given the UK government the power to intervene in acquisitions, with a view to maintaining in the United Kingdom the capability to combat and mitigate the effects of public health emergencies....more
6/28/2020
/ Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
Health and Safety ,
Healthcare Facilities ,
National Security ,
Public Health ,
Restricted Transactions ,
UK
The European Commission’s ability to block mergers in oligopolistic markets is likely to be more restricted as it faces greater evidential hurdles in meeting the higher standard of proof imposed by the EU General Court, which...more
The UK Parliament’s Foreign Affairs Committee has issued a “call for evidence” as part of its ongoing review of the UK government’s role in intervening in certain foreign takeovers of UK companies and potentially blocking...more
New guidance from the UK Competition and Markets Authority warns that it will not relax its substantive or evidentiary standards for merger investigations during the coronavirus (COVID-19) pandemic. ...more
The Council of the EU announced on March 30 that the European Union has suspended the airport slot requirements until October 24. The slot requirements require airlines to use at least 80% of their slots in order to be...more
From disrupting the supply of medical devices to affecting how they are regulated and sold in the United Kingdom (UK), Brexit could carry significant implications for UK healthcare and trade....more