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President Trump Announces “America First Investment Policy” to Promote Investments from Allies and Enhance Restrictions on China

On February 21, 2025, President Trump signed a National Security Presidential Memorandum (NSPM) announcing an “America First Investment Policy” focused on promoting foreign investment in the United States from allies and...more

CFIUS Annual Report For 2023 Highlights Increasing Focus on Compliance and Enforcement Despite Reduction in Cases

The Committee on Foreign Investment in the United States (CFIUS or the Committee) recently released the public version of its Annual Report to Congress for the calendar year 2023. The report shows an increasing emphasis on...more

Treasury Proposes Expanding CFIUS Jurisdiction Over Real Estate Transactions Near Military Sites

On July 8, the U.S. Department of the Treasury (Treasury) issued a Notice of Proposed Rulemaking (NPRM) that would expand the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS) to review...more

Treasury Proposes Stronger CFIUS Penalties, Broader Subpoena and Enforcement Powers

The U.S. Department of the Treasury (Treasury), which chairs the Committee on Foreign Investment in the United States (CFIUS or the Committee), recently published a Notice of Proposed Rulemaking (NPRM) that would amend the...more

GAO Study Highlights Shortcomings in USDA Land Deal Information Sharing with CFIUS

On January 18, 2024, the U.S. Government Accountability Office (GAO) released a public report that found the U.S. Department of Agriculture (USDA) does not share timely data on foreign investments in agricultural land with...more

House Select Committee on the CCP Releases Report Proposing Changes to CFIUS

On December 12, 2023, the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party (the “Committee”), led by Chairman Mike Gallagher (WI), issued a wide-ranging report with...more

CFIUS Releases 2022 Annual Report as Congress Considers Expanding CFIUS Jurisdiction

The Committee on Foreign Investment in the United States (CFIUS or the Committee) recently released the public version of its Annual Report to Congress for calendar year 2022. The report shows that the volume of CFIUS filings...more

Biden Administration Issues Executive Order and Proposals Targeting Outbound Investment in China

After much anticipation, on August 9, 2023, the Biden Administration released an Executive Order (E.O.) outlining how the U.S. Government will begin to regulate U.S. investments in the People’s Republic of China. This E.O.,...more

Treasury, Commerce Issue Reports to Congress Outlining Proposed Outbound Investment Initiative

In accordance with the Consolidated Appropriations Act, 2023 (Public Law 117-328), the U.S. Treasury and Commerce Departments recently issued reports to Congress outlining the contours of a proposed outbound investment review...more

CFIUS Confirms Excepted Foreign State Status for the United Kingdom and New Zealand

On February 10, 2023, the Committee on Foreign Investment in the United States (CFIUS or the Committee) announced determinations that the United Kingdom (UK) and New Zealand have met the requisite criteria for remaining...more

2/13/2023  /  CFIUS , FIRRMA , Foreign Investment , New Zealand , UK

Outbound Investment Initiative Appears in Omnibus Government Funding Package

On December 29, 2022, President Biden signed into law an omnibus government spending package, which includes explanatory statements regarding outbound investment initiatives. According to media reports and official statements...more

CFIUS Releases First-Ever Enforcement and Penalty Guidelines

On October 20, 2022, the Department of the Treasury (Treasury), which chairs the Committee on Foreign Investment in the United States (CFIUS), released the first-ever CFIUS Enforcement and Penalty Guidelines (the Guidelines)....more

New Executive Order Directs CFIUS to Consider Additional National Security Factors in Evaluating Covered Transactions

On September 15, 2022, President Biden signed an executive order (EO) that reaffirms longstanding U.S. open investment policy and elaborates and expands on the existing list of statutory factors that the Committee on Foreign...more

CFIUS Finalizes Rule on “Excepted Foreign State” Definition and Announces Determinations Related to Australia, Canada, and New...

The U.S. Department of the Treasury (Treasury), which chairs the Committee on Foreign Investment in the United States (CFIUS or the Committee), recently announced several actions pertaining to its mandate under the Foreign...more

Treasury Proposes Rule to Delay CFIUS “Excepted Foreign State” Determinations

On November 15, 2021, the U.S. Department of the Treasury (Treasury) published a proposed rule that would modify the definitions of “excepted foreign state” and “excepted real estate foreign state” in its regulations...more

[Webinar] 2021 National Security Series - National Security Issues in M&A Due Diligence - November 10th, 2:30 pm - 3:30 pm EDT

Please join us in a discussion on the importance of M&A due diligence, where we will cover: - Cybersecurity and ransomware; - Corporate M&A activity; - Bureau of Industry and Security (BIS), export controls, and...more

FCC Finalizes Standard Questions for Applicants as Last Step in Team Telecom Modernization

On September 30, 2021, at its Open Commission Meeting, the Federal Communications Commission (FCC or Commission) issued a Second Report and Order (Order) adopting a set of standardized national security and law enforcement...more

CFIUS Releases 2020 Annual Report

The Committee on Foreign Investment in the United States (CFIUS or the Committee) released a public version of its annual report to Congress for the calendar year 2020. The report covers transactions filed with the Committee...more

CFIUS Issues Interim Order Blocking Wise Road’s Acquisition of Magnachip

On June 15, 2021, the Committee on Foreign Investment in the United States (CFIUS) issued an interim order preventing the Chinese private equity firm Wise Road Capital LTD (Wise Road) from acquiring Magnachip Semiconductor...more

[Webinar] 2021 National Security Series: CFIUS in the Biden Administration - May 6th, 1:00 pm - 2:00 pm EDT

The webinar will review how the Biden Administration is taking the reins on the Committee on Foreign Investment in the United States (CFIUS) process, Team Telecom, and other national security regimes....more

New DOD Trusted Capital Program Provides Investment Opportunities

WHAT: The U.S. Department of Defense (DOD) has established a new voluntary program designed to match critical technology companies with vetted sources of private capital. WHEN: On December 1, 2020, DOD issued a Request for...more

White House Strategy on Critical and Emerging Technologies Previews Regulation and Possible Export Controls

On Thursday, October 15, 2020, the White House released a national strategy to ensure that the United States remains a global leader in developing critical and emerging technologies (C&ET). The document lays out high-level...more

FCC Unanimously Approves Initial Phase of Team Telecom Modernization

On September 30, 2020, the Federal Communications Commission (FCC or Commission) unanimously approved its initial modernization of the inter-agency working group previously referred to as “Team Telecom” (the Committee). This...more

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