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President Issues National Security Memorandum on America First Investment Policy

President Donald Trump on February 21, 2025 issued a National Security Presidential Memorandum titled the America First Investment Policy to provide guidance to executive departments in their review and decision-making with...more

US Treasury Issues Final Rule Expanding CFIUS’s Real Estate Jurisdiction

The Committee on Foreign Investment in the United States (CFIUS) finalized a previously proposed rule expanding both the types of military installations covered by its regulations governing reviews of real estate transactions...more

Treasury Proposes Rule to Expand CFIUS’s Real Estate Jurisdiction

The US Department of the Treasury on July 8, 2024 proposed updates to the Committee on Foreign Investment in the United States’s (CFIUS’s) regulations that seek to expand the list of military installations for which proximity...more

Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global...more

US Outbound Tech Investments in Crosshairs with EO, ANPRM Release

The Biden administration issued a long-anticipated executive order on August 9 regarding US outbound investment in select technology and products with national security applications produced by “countries of concern.”...more

CFIUS Releases Annual Report for 2022: Drawing Meaning From the Numbers

The Committee on Foreign Investment in the United States (CFIUS or Committee) recently released its annual report for 2022. The report contains data that provides potentially useful insights into how CFIUS is functioning, the...more

National Security and Real Estate: Mind the Gap Between Federal and State Jurisdiction

Jurisdictional limits on the Committee on Foreign Investment in the United States (CFIUS) regarding the review of certain real estate transactions have led Congress to introduce proposals expanding its jurisdiction and...more

Navigating US-China Relationship and CFIUS for Asian Life Sciences Companies

In the midst of a significant increase in foreign direct investment (FDI) in the US life sciences industry, which includes medtech and biopharmaceutical companies, Chinese FDI has declined considerably since its peak year of...more

When to Press ‘Pause’ (and ‘Play’) in M&A: CFIUS and Trade Regulation Considerations

While the longstanding review by the United States of cross-border investments for national security implications might sound like the same old song, several important developments in recent years should give investors and...more

Issuers Should Review Risk Factor Disclosures Amid US–China Tensions

Geopolitical, trade, and investment tensions between the United States and China continue due to differences on such issues as the Russia-Ukraine conflict, Taiwan, Xinjiang, Hong Kong, Tibet, the South China Sea, human...more

What’s Driving the Future of Asia’s Tech Scene: Key Trends and Regulatory Updates

Heading into 2023, Asia’s tech scene is well-positioned for strong growth potential. As with any industry where advancement and innovation are outpacing regulation, the complex landscape can be difficult for businesses to...more

National Security–Related Considerations When Investing in US Companies

There are many international and Asia-based investors looking to invest in companies in the US for both strategic and commercial reasons, and in return they offer attractive sources of funding. Often, financial investments...more

Biden Issues CFIUS Executive Order: What Has Changed and What Remains the Same

President Joseph Biden’s recently issued Executive Order provides guidance related to the US national security foreign direct investment review process administered by the Committee on Foreign Investment in the United States....more

CFIUS Concerns in Life Science Investment and Venture Capital Transactions

There has been a significant increase in cross-border investment (FDI) in the US life sciences industry, including both medtech and biopharmaceutical companies. Determining if life sciences companies, particularly those in...more

Final CFIUS Mandatory Declaration Rule Shifts Focus to Export Control Requirements

US businesses that manufacture or are involved with critical technologies should consider whether they need an export license under the final CFIUS mandatory declaration requirements, effective October 15, 2020....more

Implications for US Nuclear – Recent CFIUS Proposed Changes to Mandatory Filings

The US Department of the Treasury’s Committee on Foreign Investment in the United States (CFIUS) published proposed rule changes on May 21 addressing when parties must notify the Committee of proposed transactions....more

CFIUS Says Farewell to NAICS, Hello to Export Licensing in Mandatory Declarations

The Committee on Foreign Investment in the United States’ proposed changes to the mandatory declaration program would expand the potential industries affected by the mandatory declaration requirements, but also narrow the...more

CFIUS’s Final Real Estate Regulations: Still a Largely Voluntary Process

The CFIUS real estate regulations reflect a new emphasis on real estate transactions based on proximity to military installations and certain critical infrastructure, requiring careful analysis when deciding whether a real...more

CFIUS Issues Final Regulations Under FIRRMA: Healthcare Industry

On January 13, the Committee on Foreign Investment in the United States (CFIUS) published the final rules implementing the Foreign Investment Risk Review Modernization Act (FIRRMA). ...more

CFIUS Issues Final Regulations Under FIRRMA

The US Department of the Treasury’s Committee on Foreign Investment in the United States (CFIUS) on January 13 published the final rules implementing the Foreign Investment Risk Review Modernization Act (FIRRMA). FIRRMA...more

CFIUS's Proposed Rule Expands Reach to Real Estate Deals

On September 17, 2019, the Committee on Foreign Investment in the United States (CFIUS or the Committee) issued proposed regulations implementing the remaining aspects of the Foreign Investment Risk Review and Modernization...more

Highlights from CFIUS's New Proposed Regulations Implementing FIRRMA

The Committee on Foreign Investment in the United States (CFIUS) on September 17 released its long-awaited proposed regulations implementing many aspects of the Foreign Investment Risk Review and Modernization Act of 2018...more

CFIUS Scratches the FIRRMA Itch – Pilot Programs Begin Early Implementation

The August 2018 enactment of the Foreign Investment Risk Review Modernization Act (FIRRMA) came after more than two years of debate over the appropriate scope of jurisdiction for the Committee on Foreign Investment in the...more

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