Jones Day Talks: Italy Embraces Foreign investment but Maintains Oversight
Based on consistent comments by the US Congress, think tanks, and the US-China Economic and Security Review Commission, several members of Congress proposed legislation to shift jurisdiction for export controls from Commerce...more
Key Points - On 11 June 2021 the European Union (the “EU”) published Regulation (EU) 2021/821 (the “Recast Regulation”) in its Official Journal, which marked the final step with respect to modernizing its existing dual use...more
The Situation: The French government issued on December 31, 2019, new rules substantially revising the French Foreign Direct Investments ("FDI") regulation. These new provisions mostly implement the recent PACTE law and the...more
Further to the Decree of 29 November 2018, which expanded the list of strategic sectors, and to the so-called « PACTE » law of 22 May 2019, which strengthened the enforcement powers of French authorities with respect to the...more
National security interventions have largely been confined to defense-related transactions - Since mid-2018, there have been a number of important changes (actual and proposed) to legislation permitting intervention by...more
In December 2018, a new decree expanded the scope of the French national security review, especially in the technology sector In May 2019, the so-called “PACTE” Law strengthened the powers of French authorities in case of...more
Deals are generally not blocked in Finland - The Finnish government views foreign ownership positively as a catalyst for increasing internationalization and competitiveness. Deals are only restricted when they meet very...more
Italy is ranked one of the top destinations for investment in the European union. Still, the Italian government wields the authority to review, and even prevent, investments by foreign entities seeking assets in certain...more
On August 13, 2018, President Donald Trump signed into law the John S. McCain National Defense Authorization Act (NDAA) for fiscal year 2019. A key focus of legislation contained in the NDAA is to protect U.S. technological...more
On August 27, 2018, the U.S. Department of State implemented the first tranche of new sanctions on Russia under the Chemical and Biological Weapons Control and Warfare Elimination Act (the CBW Act). The enactment of these...more
The UK government has widened the circumstances in which it may block mergers and takeovers of businesses in the military, dual-use, computing hardware and quantum technology sectors. Further strengthening of the UK rules is...more
The ECO is making a combination of reforms, intended to improve its service in support of responsible defence and security exports while at the same time ensuring that the objectives of strategic trade controls to protect...more