Commission announces adoption of implementing rules for Foreign Subsidies Regulation

Article summary

The European Commission has announced that the rules for the implementation of the Foreign Subsidies Regulation (FSR) have been adopted. The rules set out the procedural aspects of the implementation of the FSR and also contains notification forms for concentrations involving foreign financial contributions and for foreign financial contributions in public procurement procedures. The European Commission stated that the adopted regulation takes into account the feedback received during its consultation on the implementation of the FSR, which closed on 6 March 2023. The FSR will start to apply from 12 July 2023, and as of 12 October 2023, companies will be required to notify concentrations and participation in public procurement procedures involving foreign financial contributions and meeting the relevant notification thresholds.