Canada to Increase Penalties for Non-compliance with FDI Reviews

Wednesday, February 1, 2023

Michael Osborne and Samuel Bogetti were quoted in a Foreign Investment Watch article discussing the new guidelines the Canadian government issued for their national security review process. One proposed change is doubling the penalties for non-compliance with the Investment Canada Act (ICA).  “The ICA currently allows the government to review completed investments, including minority investments, and order divestitures,” said Michael and Sam. Anyone considering an investment in a critical sector “should consider using the government’s voluntary pre-notification process, which enables the investor to know for certain whether an investment will be allowed.”

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