While the total number of filings declined in comparison to recent years, CFIUS's latest Annual Report to Congress highlights an uptick in penalties and an increased use of enforcement tools relating to national...more
On July 8, 2024, the U.S. Department of the Treasury ("Treasury") issued a proposed rule to expand the Committee on Foreign Investment in the United States' ("CFIUS") jurisdiction over certain categories of foreign investment...more
On April 11, 2024, the Treasury Department announced a prepublication copy of a proposed rule amending the regulations of the Committee on Foreign Investment in the United States ("CFIUS") (the "Proposed Rule")....more
In recent years, the world has witnessed heightened sensitivity surrounding foreign investments, leading to increased regulatory scrutiny of foreign direct investments ("FDI") on the basis of national security concerns. The...more
The Biden administration has issued a long-anticipated executive order targeting U.S. outbound investment in certain Chinese industries; however, significant steps remain before these measures are fully implemented....more
8/22/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Biden Administration ,
China ,
Comment Period ,
Executive Orders ,
Final Rules ,
Foreign Investment ,
National Security ,
Outbound Transactions ,
Popular ,
U.S. Treasury
The Committee on Foreign Investment in the United States ("CFIUS") has released its first-ever enforcement and penalty guidelines—putting industry on notice and inviting self-disclosures....more
On September 15, 2022, President Biden issued an EO "elaborating and expanding" upon the factors CFIUS must consider as part of its national security review process. Although the EO does not change the formal CFIUS process or...more
In Short -
The Situation: In early August 2022, the Department of the Treasury's Committee on Foreign Investment in the United States ("CFIUS" or "the Committee") released its new annual report. ...more
On November 12, 2020, President Trump issued an Executive Order titled "Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies," which will prohibit U.S. persons from participating...more
The Situation: The U.S. Department of the Treasury ("Treasury Department") recently issued proposed regulations that will alter and in some cases expand the scope of critical technology foreign investments subject to...more
6/23/2020
/ CFIUS ,
Critical Infrastructure Sectors ,
Export Administration Regulations (EAR) ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
ITAR ,
National Security ,
New Rules ,
Proposed Regulation ,
U.S. Treasury
The Situation: The Committee on Foreign Investment in the United States ("CFIUS," or the "Committee") recently published draft regulations implementing the Foreign Investment Risk Review Modernization Act ("FIRRMA"), which...more
10/31/2019
/ Biotechnology ,
CFIUS ,
Cross-Border Transactions ,
Data Collection ,
Draft Guidance ,
Export Administration Regulations (EAR) ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
ITAR ,
Life Sciences ,
National Security ,
Personal Data ,
Real Estate Transactions
On May 11, 2018, the U.S. Senate Committee on Banking, Housing and Urban Affairs ("Committee") released a "discussion draft" of the Committee's amendment to the Foreign Investment Risk Review Modernization Act of 2017...more
While 2017 was an evolutionary year for the Committee on Foreign Investment in the United States ("CFIUS"), 2018 portends to be a revolutionary year. A number of factors, including a new President, growing concerns over...more
Congress recently introduced two pieces of legislation that could significantly change foreign direct investment review in the United States. The Foreign Investment Risk Review Modernization Act of 2017 ("FIRRMA") seeks to...more
The Situation: CFIUS recently released its annual report to Congress regarding transactions reviewed by CFIUS during 2015, as well as limited information regarding transactions reviewed during 2016....more
10/13/2017
/ Acquisitions ,
Annual Reports ,
CFIUS ,
China ,
Corporate Counsel ,
Financial Transactions ,
Foreign Investment ,
Investigations ,
Mergers ,
Mitigation ,
National Security