On February 21, 2025, President Trump published a National Security Presidential Memorandum outlining his administration’s views on foreign investment and substantial changes to current regulatory regimes. The...more
2/26/2025
/ America First Trade Policy ,
Artificial Intelligence ,
CFIUS ,
China ,
Compliance ,
Economic Sanctions ,
Export Controls ,
Foreign Agents Registration Act (FARA) ,
Foreign Investment ,
Foreign Policy ,
National Security ,
Regulatory Requirements ,
Russia ,
Trump Administration
On January 13, 2025, the Department of Commerce’s Bureau of Industry and Security (BIS) published an Interim Final Rule (IFR) that expands controls on advanced computing integrated circuits (ICs or chips) and model weights...more
2/5/2025
/ Artificial Intelligence ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
China ,
Data Centers ,
Data Security ,
ECCNs ,
Export Administration Regulations (EAR) ,
Export Controls ,
Interim Final Rules (IFR) ,
National Security ,
Popular ,
Regulatory Requirements ,
Semiconductors ,
Supply Chain ,
Technology Sector ,
Trump Administration
The Department of Commerce (Commerce) Office of Information and Communications Technology and Services (OICTS) has broad authority—born out of executive action during the first Trump administration—to identify and mitigate...more
1/8/2025
/ China ,
Cybersecurity ,
Department of Defense (DOD) ,
Department of Justice (DOJ) ,
Drones ,
Final Rules ,
Foreign Adversaries ,
Information Technology ,
National Security ,
Proposed Rules ,
Regulatory Agenda ,
Risk Management ,
Supply Chain ,
Technology Sector ,
U.S. Commerce Department ,
Unmanned Aircraft Systems
Although the Trump transition is well underway, the Biden administration made news in the national security space by announcing significant new export restrictions on semiconductor equipment and technology destined for the...more
12/18/2024
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
China ,
ECCNs ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Direct Product Rule ,
Interim Final Rules (IFR) ,
NPRM ,
PRC ,
Secretary of State ,
Semiconductors ,
U.S. Commerce Department
Following years of development, on October 28, 2024, the U.S. Department of the Treasury published a final rule establishing its outbound investment security program (Final Rule). The new regime prohibits certain outbound...more
10/31/2024
/ Artificial Intelligence ,
China ,
Executive Authority ,
Final Rules ,
Foreign Investment ,
Foreign Persons ,
Information Technology ,
Lawful Permanent Residents ,
National Security ,
Semiconductors ,
U.S. Treasury
Continuing the Biden administration’s focus on securing the nation’s critical technologies, on September 23, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) announced a Notice of Proposed...more
9/30/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Automated Systems ,
Automated Transportation ,
Autonomy ,
Bureau of Industry and Security (BIS) ,
China ,
Connected Cars ,
Motor Vehicles ,
PRC ,
Russia ,
Software ,
Supply Chain ,
U.S. Commerce Department
The Department of Commerce, Bureau of Industry and Security (BIS) just announced two developments impacting the Artificial Intelligence (AI) and advanced technologies sectors. Specifically, BIS imposed the first export...more
On July 23, 2024, the Committee on Foreign Investment in the United States (CFIUS or the “Committee”) released its Annual Report to Congress covering calendar year 2023. In a year that featured lower deal volume, CFIUS...more
On June 24, 2024, the Commerce Department published a Final Determination under its Information and Communications Technology and Services (ICTS) authorities. The determination prohibits the Russian-controlled cybersecurity...more
7/16/2024
/ CFIUS ,
Corporate Counsel ,
Covered Transactions ,
Department of Homeland Security (DHS) ,
Department of Justice (DOJ) ,
Executive Orders ,
FCC ,
Foreign Adversaries ,
Information and Communication Technology (ICT) ,
Information Systems Security Program (ISSP) ,
National Security ,
Risk Assessment ,
Russia ,
Software ,
U.S. Commerce Department
On June 21, 2024, the Biden administration rolled out its outbound investment screening regulations. Last year, the Biden administration published an advanced notice of proposed rulemaking (ANPRM) that outlined the broad...more
7/11/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
CFIUS ,
China ,
Covered Transactions ,
Due Diligence ,
Equity Investors ,
Foreign Nationals ,
Information Technology ,
International Emergency Economic Powers Act (IEEPA) ,
Investment ,
Popular ,
Screening Procedures ,
U.S. Treasury
On May 22, 2024, the Department of Justice’s (DOJ) National Security Division (NSD) announced its first-ever prosecution declination under its corporate voluntary self-disclosure (VSD) policy for sanctions and export controls...more
On May 13, 2024, President Biden issued an Executive Order requiring MineOne Partners Limited and its affiliates (together, “MineOne”) to divest their interest in real property located less than one mile from Francis E....more
On January 29, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a proposed rule to prevent foreign actors from using U.S. cloud computing services for malicious cyber activities. The proposal...more
2/14/2024
/ Artificial Intelligence ,
Bureau of Industry and Security (BIS) ,
Cyber Crimes ,
Cybersecurity ,
Foreign Jurisdictions ,
Foreign Subsidiaries ,
IaaS ,
Know Your Customers ,
National Security ,
Popular ,
Proposed Rules ,
U.S. Commerce Department
As discussed in our September 2023 Lawfare article, the Biden administration’s first-of-its-kind outbound investment review program seeks to limit outbound investments by U.S. investors in Chinese developers of certain...more
12/15/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
China ,
Due Diligence ,
Export Administration Regulations (EAR) ,
Foreign Investment ,
Foreign Nationals ,
Investment ,
Semiconductors ,
Technology ,
U.S. Treasury
On August 9, 2023, President Biden issued a long-anticipated executive order (EO) to address investments by U.S. persons in companies that engage with certain categories of technology and products located in the People’s...more
8/11/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
China ,
Executive Orders ,
Foreign Investment ,
Intelligence Services ,
Joe Biden ,
Microchip Technology ,
National Security ,
PRC ,
Screening Procedures ,
Semiconductors ,
Technology Sector
In July 2023, the Committee on Foreign Investment in the United States (CFIUS or the “Committee”) released its Annual Report to Congress covering calendar year 2022. Although the Report’s data lags a bit, given we are eight...more
On May 4, 2023, the Committee on Foreign Investment in the United States (“CFIUS”) published a proposed rule that would update CFIUS’s current real estate-specific regulations to add eight military installations. Broadly,...more
On May 4, 2023, the Committee on Foreign Investment in the United States (“CFIUS”) published a proposed rule that would update CFIUS’s current real estate-specific regulations to add eight military installations. Broadly,...more
Continuing the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) efforts to bolster enforcement and compliance, on April 18, 2023, BIS issued a memorandum announcing significant changes to its voluntary...more
The United States took two significant actions last week to cement its stance that protecting human rights around the globe is a central U.S. national security and foreign policy interest in export control policy and...more
In what likely portends enforcement actions in the near future, the U.S. Department of the Treasury published its first ever CFIUS Enforcement and Penalty Guidelines (the “Guidelines”)....more
Last month, the Committee on Foreign Investment in the United States (CFIUS) released its Annual Report to Congress covering 2021. The key takeaway is that CFIUS is more active than ever, subjecting a record number of...more
9/15/2022
/ CFIUS ,
China ,
Corporate Counsel ,
FIRRMA ,
Foreign Agents Registration Act (FARA) ,
Foreign Direct Investment ,
Foreign Investment ,
Jurisdiction ,
Mitigation ,
National Security ,
Written Notice
Those who have been waiting to see how exactly the United States Department of Commerce will distinguish and ultimately control “emerging” and “foundational” technologies may not get an answer after all....more
Revised draft legislation circulated June 13th is the most recent salvo in a long-running effort that is increasingly likely to create an unprecedented outbound investment review mechanism in the United States. ...more
6/17/2022
/ CFIUS ,
China ,
Critical Infrastructure Sectors ,
Department of Agriculture ,
Department of Health and Human Services (HHS) ,
Department of Homeland Security (DHS) ,
Foreign Entities ,
Foreign Investment ,
National Security ,
Russia ,
Trade Representatives ,
Written Notice
As close observers of the Committee on Foreign Investment in the United States (“CFIUS” or “Committee”) are aware, the Committee has the authority to recommend that the President of the United States block a transaction on...more