On Wednesday December 9th, the last CIBA event for 2020 “The New World of Investment Screening” took place online.
The event was co-organized by CIBA with CIIM as part of the research activities of the MSC in Financial Law and International taxation and supported as well by the Cyprus Branch of the International Law Association.
- Professor Christopher Bovis, Professor of International Business Law at the University of Hull, Visiting Professor in MSc in Financial Law, and International Taxation at CIIM presented on the EU Screening framework .
The FDI screening regulation adopted in March 2019 established an EU-wide framework in which the European Commission and the Member States can coordinate their actions on foreign investments. It is this framework; it’s the regulation and its effects that we will be presented today by Professor Bovis. How will the FDIS regulation impact companies? How will M&A and takeovers be affected? What other influences are to be expected. Presentation can be downloaded here: CB EU SCREENING FRAMEWORK
- Dr. Eleni Apostolidou discussed on – The EU is preparing a supplementary Screening process on Foreign Direct Investment
The FDIs has introduced screening procedures for non-EU investors, with a narrow objective: defending security and public order. A new screening process will be introduced soon, adding a standalone screening process on foreign investors to assess the potential distortions in the internal market, services & financial flows. Its scope is much broader and the mechanics of its implementation remain to be determined. Presentation can be downloaded here: EA White Paper on Subsidies_Apostolidou_
- Dr. Nikitas E. Hatzimihail: EU protection measures: policy, extraterritorially and dispute resolution
The EU protective measures under foreign investment screening are preemptive. That could be a swing condition, for more or less business cost; where the redressive measures may have a more ample income than the disinvestment. The legal test is stretched to cover related companies established outside the EU, remodeling the connecting factors as interpreted under EU law. Policy questions and national interests are to be accommodated within a common investment strategy. Presentation can be downloaded here: NH White Paper on Subsidies_Comments_Hadjimihael
- Round Table Discussion: Discussion on public versus EU interest test, minority rights versus freedom of capital
- Pantelis Christofides: National experiences of implementing Screening processes on Foreign Direct Investment
How is Cyprus preparing for the FDIs Regulation? Where do things stand? Mr. Pantelis Christofides provides an update on the implementation of the FDIS Regulation in the Republic of Cyprus.
Presentation can be downloaded here: LPCOLLC PRESENTATION 09122020_FDIS Regulation and RoC