Regulatory Changes to Sensitive Industries

The outbreak of the COVID-19 pandemic and the resulting market volatility have led several governments to amend law and regulation in the context of sensitive industries (SI). SI refers to two distinct types of investment restrictions: 1) foreign direct investment (FDI) restrictions, often part of national security screenings of incoming foreign capital and 2) sector-specific investment restrictions applicable without regard to nationality.

Much of the regulatory response has been directed to tightening FDI reviews by lowering shareholding thresholds as well as expanding the sectors caught by a FDI review. As a result of the COVID-19 changes, more investments are now subject to regulatory scrutiny, accelerating an existing trend of reform in this space.

Hover over a jurisdiction below to see where regulatory changes in sensitive industries have occurred since March 2020.

Other maps: Shareholder Disclosure: Long Holdings in Europe | Global Short Selling Restrictions in a COVID-19 Economy | Shareholder Disclosure: Low Notification Thresholds in Europe