FSR Guidelines 2026 | “Safe harbours” for call ins: Comfort, not a free pass

By Stéphane Dionnet, Sabine Naugès, Axel Schulz and Andréa Londoño López on 2026-01-14

The final FSR Guidelines, adopted on January 9, 2026, do not expand the Commission’s legal powers under the Foreign Subsidies Regulation (Regulation (EU) 2022/2560). What they do offer is a more calibrated, and more operational, statement of enforcement intent, particularly around when the Commission may require prior notification of otherwise non notifiable deals or tenders.

Click here to read the full article.

Tags: Foreign Subsidies Regulation, FSR, FSR Guidelines

Stéphane Dionnet
Stéphane Dionnet is co-head of McDermott’s Antitrust Mergers Focus Group and has over 20 years of experience practicing international competition law, and has experience liaising with competition authorities in the European Union, United States and Asia. Stéphane has advised global corporations on how to navigate complex multijurisdictional merger control matters. He has represented clients in numerous cartel investigations and has also successfully assisted companies in obtaining conditional immunity from the European Commission and other competition law agencies in and outside the European Union.

Sabine Naugès
Sabine Naugès counsels clients on all aspects of public law, including administrative and regulatory, competition and constitutional law. Among other high-profile clients, Sabine has advised telecommunications companies France Télécom and Orange on regulatory matters in cases before administrative and commercial courts, and before EU and French competition authorities. She also regularly represents major companies with interests in a wide range of industries, including aerospace, energy, oil and gas, and public health care, before the French government and in litigation, in a range of regulatory and administrative matters.

Axel Schulz
Axel Schulz focuses his practice on European competition law and has a wealth of experience in merger control, global cartel defence and general antitrust advice in sectors including energy, chemicals, agri-commodities, container shipping, ports, pigments, medical devices and pharmaceuticals. Within the pharmaceutical sector, Axel demonstrates exceptional proficiency and industry insight. He has built a solid reputation assisting clients with competition law matters arising around loss of exclusivity; in addition, Axel has advised on distribution, co-marketing, licensing and various forms of vertical and horizontal cooperation agreements. Axel is adept in orchestrating advice across numerous jurisdictions, providing clients with clear and comprehensive solutions. This global aspect of his practice equips him to guide both national and multinational companies through the most intricate challenges.

Andréa Londoño López
Andréa Londoño López focuses her practice on public, administrative, and regulatory law with a particular strength in contentious proceedings. She has advised and represented private clients as well as public entities before the Conseil d’État, administrative tribunals, French administrative agencies, and the ECJ and ECHR. She is highly experienced in the telecommunications, medical, transportation and energy sectors, as well as in government contracts (public procurement and public service concessions).

FSR Guidelines 2026 | “Safe harbours” for call ins: Comfort, not a free pass

Related Posts

BLOG EDITORS

STAY CONNECTED

TOPICS

ARCHIVES

RECENT POSTS