Podcast: Illinois Tool Works Inc. & Subsidiaries v. Commissioner of Internal Revenue
FCPA Compliance and Ethics Report-Episode 142-Reflections on the Goodyear FCPA Enforcement Action
FCPA Compliance and Ethics Report-Episode 122-with Matt Kelly on Alstom, Avon and Petrobras
FCPA Compliance and Ethics Report-Episode 117-the Avon FCPA Enforcement Action
Cross-Border Update on Investing and Doing Business in the United States
The European Commission (EC) has issued preliminary clarifications concerning the distortion test under the new Foreign Subsidies Regulation (FSR). These preliminary clarifications come only a year after the FSR came into...more
The EU Foreign Subsidies Regulation (FSR) took effect in July 2023. It aims to regulate subsidies granted by non-EU countries to ensure that they do not distort competition in the EU internal market. For dealmakers, it is...more
Antitrust authorities continue to use powers to review deals that fall below merger control filing thresholds. For merging parties this means uncertainty. It is crucial that the possibility of review – including a...more
In this dynamic global landscape, investors have always been required to make savvy, smart choices. This requires navigating through the intricate web of bilateral treaty protection, exploring the vital role these agreements...more
The EU Foreign Subsidies Regulation took effect on 12 July 2023 to much fanfare. We take a look at the top five things PE funds need to know when considering acquisitions with a European footprint. The Foreign Subsidies...more
On 12 July 2023, the EU’s Foreign Subsidies Regulation (FSR) entered into force. The FSR allows the European Commission (EC) to investigate and remedy subsidies received from non-EU countries that distort the EU internal...more
The EU's long-awaited Foreign Subsidies Regulation (FSR) will come into full effect by mid-2023. The FSR is expected to have a major impact on companies that have received financial contributions from non-EU countries and...more
On December 23, 2022, Regulation (EU) 2022/2560 of December 14, 2022 on foreign subsidies distorting the internal market (FSR) was published in the Official Journal of the European Union. The FSR introduces a new regulatory...more
On June 30, 2022, the Council of the European Union (Council) and the European Parliament (Parliament) reached a political agreement on the Regulation on foreign subsidies distorting the internal market (FSR or Regulation)....more
Learning objectives: - Overview of US sanctions regimes - To whom US laws apply (e.g. includes foreign subsidiaries; secondary sanctions) - key developments - compliance obligations and elements of an effective sanctions...more
Mere months after Airbus entered into a record-breaking, nearly $4 billion resolution with the U.S., U.K., and France to settle foreign bribery allegations, the U.K.’s Serious Fraud Office (“SFO”) moved on July 30, 2020, to...more
Although the EU has strict rules that limit the circumstances in which Member States can subsidize companies in the EU, the rest of the world does not. The European Commission considers this difference unfair because it would...more
On 17 June 2020, the European Commission published a White Paper seeking views on three powerful new tools to control the acquisitions and activities of foreign subsidised companies in the EU:1 (i) a general ex post control...more
FOREIGN SUBSIDIES COULD SOON BECOME THE SUBJECT OF SPECIFIED EU REGULATIONS- The EU Commission wants to create regulations to tackle impacts of foreign government funding in the EU. In its “White Paper on levelling the...more
The European Commission is expected to issue a White Paper on an Instrument on Foreign Subsidies on June 17, as anticipated in its 2020 work program. The Commission's White Paper will address the perception that foreign...more
The EU Foreign Direct Investment Regulation will be in full force from October 11, 2020. We expect it will radically alter the dynamics of foreign investment review in Europe. Any non-EU investor and any EU target company...more
Cardinal Health Inc. (Cardinal) settled its Foreign Corrupt Practices Act (FCPA) matter with the Securities and Exchange Commission (SEC) last week. According to the SEC Press Release, Anita B. Bandy, Associate Director in...more
Development Securities plc and others v HMRC [2019] UKUT 169 (TCC) - The Original Judgment - As we reported in our August 2017 UK Tax Round-Up [https://www.proskauer.com/newsletter/uk-tax-round-up-august-2017], the...more
In a decision with potentially far-reaching implications for private equity sponsors and other controlling stockholders, the Delaware Court of Chancery expanded the potential for liability for foreign-based controllers by...more
General UK Tax Developments - Enterprise management incentive (EMI) options State Aid approval - We referred in the April UK Tax Round Up to the expiry of the EU's State Aid approval for EMI options. Fortunately, this...more
This post outlines at a high-level certain provisions under the recently enacted 2017 tax legislation (Pub. L. 115-97, the “Tax Act”) that may affect M&A Transactions. Some of these rules are very complex, particularly in...more
On December 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act (TCJA), which includes numerous changes that will significantly impact mergers and acquisitions (M&A). Although the TCJA has rightly been...more
Even with the bill still in Conference, here are some things businesses should follow closely. Both House and Senate Bills call for deemed repatriation of accumulated foreign profits at reduced tax rates. ...more
The U.S. Department of Commerce, Bureau of Economic Analysis (BEA), conducts seven (7) mandatory surveys to collect information on direct investment. These seven surveys consist of an initial survey for any new in-bound...more