Golden Power: Forum on foreign investment rules in Madonna di Campiglio
Until 20 September, over 40 international experts will be discussing the new EU Regulation on screening, the role of sectoral authorities and the judicial review of ‘golden power’ decisions. Speakers include Damien Levie from the European Commission, senior officials from Palazzo Chigi, Renato Loiero and Carlo Deodato, and the chairman of Fincantieri, Biagio Mazzotta
An incentive for foreign investment increasingly depends on a country’s ability to demonstrate that it can also screen such investment. This is the central theme of the third edition of ‘Experts Talk Golden Power’, the forum which opened today in Madonna di Campiglio and will conclude on 20 September, with the participation of over 40 international experts.
The initiative, organised by the Golden Power Observatory and led by Michele Carpagnano, a partner at Dentons and lecturer at the University of Trento, comes at a time when the European regulatory framework on investment screening is about to be overhauled. It is precisely the new EU Regulation that is the first issue to be addressed: proceedings at the Hotel Spinale were opened by a keynote speech from Damien Levie, Economic Security Adviser at the European Commission’s DG Trade, on the new European control framework.
The programme for Saturday 19 September focuses on institutional dialogue. Following an introduction by Carpagnano, Renato Loiero and Carlo Deodato – respectively a councillor and the Secretary-General of the Prime Minister’s Office – will speak.
This is followed by a round-table discussion, moderated by the European Commission, bringing together those responsible for foreign investment screening in Spain, Romania and Sweden – a test case to gauge the extent to which the practical procedures of individual Member States are already moving towards the harmonisation called for by Brussels.
The afternoon is devoted to the relationship between ‘golden power’ and sector-specific regulation. Roberto Chieppa, section president of the Council of State, introduces the discussion on the investigative powers of the authorities, with contributions from Carlo Comporti, Consob commissioner, and Serena Stella, deputy secretary-general of the AGCM. This is followed by a session on the judicial review of ‘golden power’ decisions, featuring Roberto Garofoli, also a section president of the Council of State, and a workshop on the impact of economic security on global M&A transactions, attended by the chief legal officers of Assicurazioni Generali, Fincantieri, Confindustria, Assonime and Avio.
