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ARTICLE · 06 AUGUST 2026

Fifth NSI Act Annual Report: More Notifications, Fewer Interventions

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The UK Government's fifth annual report on the National Security and Investment Act reveals a 15 percent increase in notifications alongside a notable decline in final intervention orders, with only nine issued compared to 17 the previous year. While Defence continues to generate the most filings, Advanced Materials and Data Infrastructure sectors accounted for the majority of final orders, and transactions involving Chinese investors attracted disproportionate scrutiny despite representing only 2 percent o

United KingdomGovernment, Public Sector
Ryan Hansen
Ryan Hansen
Edward A. Tran
Edward A. Tran
Lavinia Puder
Lavinia Puder
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Key Takeaways

  • Build sufficient time into transactions. With the median time to accept notifications rising to 11 working days for mandatory filings and 13 working days for voluntary filings, parties should factor in a longer pre-acceptance period alongside the statutory 30 working-day review period when NSI clearance is required.
  • Look beyond traditional defence assets. Although Defence generated the most notifications, Advanced Materials accounted for five of the nine final orders and Data Infrastructure a further three, so sectors such as semiconductors, data centres and cloud infrastructure warrant close attention once a deal progresses.
  • Carry out early NSI risk assessments. With notifications up 15 percent year on year to 1,324, early consideration of whether a transaction falls within the mandatory regime can help avoid delays and reduce execution risk.

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