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The EU has reached political agreement in relation to the much-anticipated foreign subsidies regulation (the “Regulation”), which should become operational next year. The Regulation essentially creates a new subsidy control regime for third country subsidies affecting the EU market and has the potential to significantly increase the regulatory risk and burdens for foreign companies operating … Read more
On 28 April 2022, the UK’s Subsidy Control Bill received Royal Assent, becoming the Subsidy Control Act 2022 (the “Act”). Although the UK’s domestic subsidy control regime now has a statutory footing, most of the Act has not yet entered into force, meaning that the interim regime based on the UK-EU Trade and Cooperation Agreement … Read more
In 2021, the European Commission issued a proposal for a far-reaching new Regulation on foreign subsidies distorting the EU market (the “proposed Regulation“). The proposed Regulation has now passed a key procedural milestone on the path to adoption. On 25 April 2022, the EU Parliament’s Committee on International Trade (“INTA Committee”) unanimously voted in favour … Read more
On 25 March 2022, the UK Government published a consultation on how “subsidies of interest” and “subsidies of particular interest” are to be defined under the UK’s new subsidy control regime. These concepts are fundamental, as they determine which subsidies are to be referred to the UK’s Competition and Markets Authority (“CMA”) for evaluation. The … Read more
On 30 June 2021, the UK Government published its much-awaited Subsidy Control Bill. In this update, we explore the key aspects of the proposed UK subsidy control regime. We conclude with five key takeaways. Overview of the UK regime The Subsidy Control Bill establishes a UK subsidy control regime, in accordance with the UK’s obligations … Read more
On 5 May 2021, the European Commission issued its much anticipated proposed regulation on foreign subsidies distorting the EU market, which we summarised in our earlier blog post. If adopted in its current form, the proposed regulation could have a transformative impact and significantly increase the regulatory risk and burdens for foreign companies operating or … Read more
On 5 May 2021, the European Commission (Commission) issued its proposal for a Regulation on foreign subsidies distorting the EU market. This follows on from the Commission’s White Paper issued in June 2020 (see our blog post here) and the extensive public consultation that ensued. Read more
The EU State aid regime in its current form ceased to be applicable in the UK as at the end of 31 December 2020, when the Brexit transition period expired. Going forward, State aid or “subsidy control” in the UK will be based on the subsidy control chapter under the UK-EU Trade and Cooperation Agreement … Read more
This blog post is an adapted version of a briefing paper prepared with the economics consultancy, Oxera, in connection with our joint webinar event on the European Green Deal and its implications for regulation, State aid and competition policy. The webinar, which will feature speakers from the European Commission, the judiciary and private practice, will … Read more
