In brief
On 14 July 2026, the Commission published its report to the European Parliament and the Council on the implementation and enforcement of the FSR ("Report"), together with an accompanying Staff Working Document. The Report presents the findings of the first review of the Foreign Subsidies Regulation (FSR) and covers the three years of its application.
The Commission's headline conclusion is that the FSR is "fit for purpose" and does not merit structural changes. In response to stakeholder feedback on the administrative burden of collecting data on foreign financial contributions (FFCs), the Commission indicates only that it "may consider possible adjustments to the procedural set up". The Report contains no legislative proposal, no changes to the notification thresholds and no commitment to concrete timelines.
The Report acknowledges concerns raised in stakeholder submissions, including Baker McKenzie's 18 November 2025 response to the Commission's call for evidence on the FSR review (see Feedback from: Baker McKenzie), notably the burden of FFC data collection in concentrations and public procurement. However, it stops short of engaging with more far-reaching reforms proposed by stakeholders, suggesting that businesses should not expect near-term or significant changes to the scope, thresholds or core concepts of the FSR.