After over a year of preview, the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) has finally published information on its most recent enforcement actions.
The actions were announced on...more
9/4/2024
/ Bureau of Industry and Security (BIS) ,
CFIUS ,
Compliance ,
Corporate Counsel ,
Data Security ,
Divestment ,
Enforcement ,
Failure to Comply ,
Foreign Investment ,
National Security ,
National Security Agency (NSA) ,
Penalties ,
Transparency
The U.S. Department of the Treasury’s Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) has published its Annual Report to Congress for 2023 (the “Annual Report”), which provides important data...more
8/8/2024
/ Acquisitions ,
Annual Reports ,
CFIUS ,
China ,
Compliance ,
Declaration ,
Enforcement Actions ,
Foreign Investment ,
Investigations ,
Investment ,
Investors ,
Mergers ,
Mitigation ,
National Security ,
Notice Requirements ,
Proposed Rules ,
U.S. Treasury
The U.S. Department of the Treasury (“Treasury”), the Chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), has released a Notice of Proposed Rulemaking (“NPRM”) to expand CFIUS’...more
Almost a year after President Biden signed an Executive Order to establish a U.S. outbound investment regime, the U.S. Department of the Treasury has published a Notice of Proposed Rulemaking (“NPRM”) on U.S. outbound...more
6/27/2024
/ Acquisitions ,
Advanced Notice of Proposed Rulemaking (ANPRM) ,
Biden Administration ,
Capital Investments ,
CFIUS ,
Covered Transactions ,
Executive Orders ,
Foreign Entities ,
Foreign Investment ,
Investment ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Jurisdiction ,
National Security ,
Notice of Proposed Rulemaking (NOPR) ,
Notification Requirements ,
Parent Corporation ,
Popular ,
Securities Exchange Act of 1934 ,
Semiconductors ,
Technology Sector ,
U.S. Treasury
The Biden Administration recently issued a historic Executive Order (the “Order,” available here) unwinding the purchase by an entity backed by Chinese nationals of U.S. real estate in close proximity to a strategic missile...more
5/22/2024
/ Acquisitions ,
Biden Administration ,
CFIUS ,
China ,
Cryptocurrency ,
Executive Orders ,
FIRRMA ,
Foreign Investment ,
Infrastructure ,
National Security ,
Proposed Rules ,
Real Estate Investments
The U.S. Department of Treasury (“Treasury”), which is Chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), released a Notice of Proposed Rulemaking on April 11, 2024 (“NPRM”) meant...more
Congress continues to put pressure on the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), increasingly informing the context in which the Committee conducts its work.
Last week, for...more
12/22/2023
/ Acquisitions ,
CFIUS ,
China ,
Cross-Border ,
Department of Justice (DOJ) ,
FIRRMA ,
Foreign Investment ,
Investigations ,
Investors ,
Jurisdiction ,
National Security ,
U.S. Commerce Department ,
U.S. Treasury ,
Whistleblowers
On September 14, 2023, the U.S. Department of Treasury (“Treasury”) hosted its Second Annual CFIUS Conference (the “Conference”) regarding the Committee on Foreign Investment in the United States (“CFIUS” or the...more
In brief. On August 9, 2023, President Biden signed a highly anticipated Executive Order (the “Outbound E.O.”) to establish a U.S. outbound investment regime. The U.S. Department of Treasury (“Treasury”) concurrently...more
8/14/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
Asset Management ,
Biden Administration ,
CFIUS ,
China ,
Covered Transactions ,
Executive Orders ,
FIRRMA ,
Foreign Investment ,
National Security ,
Penalties ,
Popular ,
Securities ,
Semiconductors
On July 31, 2023, the U.S. Department of the Treasury (“Treasury”) published the Committee on Foreign Investment in the United States’ (“CFIUS” or the “Committee”) Annual Report to Congress on key activities, including...more
The Biden Administration appears to be moving forward with plans to establish a mechanism through Executive Order to review outbound investments from the United States to protect U.S. national security.
Recent reporting...more
5/12/2023
/ Biden Administration ,
CFIUS ,
China ,
Executive Orders ,
FIRRMA ,
G7 ,
Investment ,
Jurisdictional Thresholds ,
National Security ,
Outbound Transactions ,
Russia ,
Supply Chain ,
U.S. Commerce Department ,
U.S. Treasury
Speaking recently at a conference concerning the Committee on Foreign Investment in the United States (“CFIUS” or the Committee”) in Washington, D.C., senior CFIUS officials from the Department of Defense (“DOD”), the...more
5/10/2023
/ Biden Administration ,
CFIUS ,
Cybersecurity ,
Department of Homeland Security (DHS) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Enforcement ,
Executive Orders ,
FIRRMA ,
New Regulations ,
Penalties ,
U.S. Treasury
The Biden Administration made clear in its recently released National Security Strategy (the “National Security Strategy”) that it intends to take new and aggressive approaches to protect U.S. national security.
The U.S....more
12/7/2022
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
China ,
Department of Defense (DOD) ,
International Trade ,
Investment ,
National Security ,
ODNI ,
Semiconductors ,
Trade Policy ,
U.S. Commerce Department
On September 15, 2022, President Biden issued an Executive Order (the “CFIUS EO”) that provides clear signals to dealmakers regarding areas of heightened interest to the Committee on Foreign Investment in the United States...more
9/19/2022
/ Artificial Intelligence ,
CFIUS ,
China ,
Clean Energy ,
Cybersecurity ,
Due Diligence ,
Executive Orders ,
FIRRMA ,
Foreign Investment ,
National Security ,
Semiconductors ,
Supply Chain
Background CFIUS is an interagency committee, principally comprising of nine members and chaired by the Secretary of the Treasury, which has broad powers to review foreign investments in and acquisitions of U.S. businesses to...more
Background -
CFIUS is an interagency committee, principally comprising nine members and chaired by the Secretary of the Treasury, which has broad powers to review foreign investments in and acquisitions of U.S. businesses...more
Key Takeaways -
Historically, the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) did not provide country-wide exemptions from applicable regulations governing national security reviews...more
Key Takeaways -
On July 26, 2021, the U.S. Treasury Department, as chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), published its Annual Report to Congress on key activities,...more
Amid escalating tensions between the United States and China over the last few years, the United States Department of Justice (“DOJ”) has formally prioritized criminal prosecutions of Chinese nationals and companies, and...more
10/29/2020
/ CFIUS ,
China ,
China Initiative ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Economic Espionage Act ,
FBI ,
FIRRMA ,
Foreign Agents Registration Act (FARA) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Entities ,
Foreign Nationals ,
Hackers ,
Intellectual Property Protection ,
Joe Biden ,
National Security ,
Presidential Elections ,
RICO ,
Trade Secrets ,
Trump Administration ,
United States
President Trump signed into law the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) on August 13, 2018. FIRRMA made several substantial changes to the CFIUS process and expanded the scope of the...more
9/22/2020
/ Amended Regulation ,
CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Exports ,
Final Rules ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Mandatory Declarations ,
NAICS ,
Non-US Entities ,
Technology Sector ,
Trump Administration
Key Takeaways -
- On July 31, 2020, the U.S. Treasury Department, as chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), published its Annual Report to Congress on all notices...more
8/7/2020
/ Annual Reports ,
CFIUS ,
China ,
Congressional Reports ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Global Dealmaking ,
Japan ,
National Security ,
National Security Review Proceedings
Key Takeaways -
On July 28, 2020, the U.S. Treasury Department, as chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), released the final rule to establish filing fees for CFIUS...more
The U.S.-China trade war continues to escalate, most recently fueled by U.S. concerns over China’s assertion of increasing authority over Hong Kong. The U.S. and Chinese governments have exchanged jabs through the use of...more
7/17/2020
/ CFIUS ,
China ,
Criminal Prosecution ,
Economic Sanctions ,
Exceptions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Free Speech ,
Free Trade Agreements ,
Freedom of the Press ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
Human Rights ,
Open General Export Licences (OGELs) ,
Popular ,
Revocation ,
Right to Peaceful Assembly ,
SDN List ,
Section 301 ,
Tariffs ,
Technology Sector ,
Trade Act of 1974 ,
Trade Policy ,
Trade Wars ,
Travel Ban ,
Trump Administration ,
United States
Key Takeaways
- On May 19, 2020, the U.S. Treasury Department, as chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), published its Annual Report to Congress on all notices filed...more
President Trump signed into law the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) on August 13, 2018, which made several substantial changes to the CFIUS process and expanded the scope of the Committee’s...more
5/28/2020
/ CFIUS ,
Critical Infrastructure Sectors ,
Export Administration Regulations (EAR) ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
ITAR ,
Mandatory Declarations ,
NAICS ,
Proposed Rules ,
Public Comment ,
Substantial Interest Test ,
Technology Sector ,
Trump Administration