The long-awaited EU Foreign Subsidies Regulation (FSR) entered into force on 12 January 2023. This client alert provides a brief description of the FSR and some practical thoughts for recipients and non-recipients of foreign subsidies. The FSR will subject some companies that have received subsidies outside the EU to new requirements including an obligation to notify the European Commission before they acquire a target that is active in the EU, and an obligation to disclose that they have received a subsidy when they participate in public tenders.
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