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Critical Infrastructure Sectors Cross-Border Transactions National Security

Wilson Sonsini Goodrich & Rosati

An Early Holiday Wish . . . for a More Informative CFIUS Annual Report

As the air turns crisp, many of us above the equator will begin to think of the winter holidays. A subset of these people will think about holiday wish-lists. And the thoughts of nearly all of that subset, or at least the...more

Paul Hastings LLP

CFIUS 2023 Annual Report Shows Committee Continues to Evolve

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On July 23, 2024, the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) released its annual report to Congress for calendar year 2023 (the “Annual Report”). CFIUS is an interagency body chaired...more

Cadwalader, Wickersham & Taft LLP

After Referral from CFIUS President Biden Prohibits the Purchase of Wyoming Real Estate and Cryptocurrency Facility

On May 13, 2024, President Biden, acting on a transaction referred to him from the Committee on Foreign Investment in the United States (“CFIUS”), took the unusual step of ordering the prohibition of a real estate acquisition...more

Dechert LLP

The Evolving Global Foreign Direct Investment and National Security Review Landscape - May 2024

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Key Takeaways - - As FDI regimes proliferate and mature around the globe, governments are taking an ever-more expansive view of the concept of “national security” to include more than military and defense interests, which...more

White & Case LLP

UK FDI: Strategic streamlining but sectoral spread - the UK Government confirms its plans for NSIA reform

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In April 2024, the UK Government published its response to the Cabinet Office's 'call for evidence' on the National Security and Investment Act 2021. The call for evidence was an invitation to submit views on how the NSIA...more

American Conference Institute (ACI)

[Event] 5th Annual European Forum on Global FDI Reviews - June 11th - 12th, Ixelles, Belgium

Hosted by C5 Group, the 5th Annual European Forum on Global FDI Reviews returns for another exciting year with curated programming that provide sessions on the most pressing issues coming across your desk and strategic...more

Fox Rothschild LLP

Biden Restricts Outbound Technology Investments into China

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A recent executive order issued by President Biden aims to prohibit or oversee investments in certain sensitive technologies that could threaten the national security of the United States. The executive order, which was...more

A&O Shearman

2022 CFIUS Annual Report Announces Record Filings, More Investigations, More Mitigation, But No Fines

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Last week, the Committee on Foreign Investment in the United States (CFIUS) released its 2022 Annual Report to Congress. CFIUS reported a record 440 filings in 2022. Although this reflects only a small increase from the 436...more

Latham & Watkins LLP

8 Key Takeaways From the CFIUS 2022 Annual Report

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The Report shows that CFIUS reviewed a record number of filings in 2022 and also required more mitigation as a condition of clearance. On July 31, 2023, the Committee on Foreign Investment in the United States (CFIUS)...more

Torres Trade Law, PLLC

Trade Alert: Treasury Releases CFIUS 2022 Annual Report

On July 31, 2023, the Committee on Foreign Investment in the United States (“CFIUS” or “the Committee”) released its annual report to Congress of the Committee’s national security reviews and investigations of certain foreign...more

Wilson Sonsini Goodrich & Rosati

"I See Dead Companies": CFIUS Aims an FAQ at the Venture Capital Model

One of the bigger surprises in the history of the Committee on Foreign Investment in the United States (CFIUS) began to unfold in May 2023, when CFIUS posted a new Q&A on the FAQ section of the CFIUS website. The FAQ...more

Wilson Sonsini Goodrich & Rosati

Strings Attached: New Proposed Rules Outline National Security Guardrails for CHIPS Act Funding Recipients

On March 23, 2023, the National Institute of Standards and Technology (NIST) released a Notice of Proposed Rulemaking (proposed rule) that sets forth the national security guardrails for funding under the CHIPS and Science...more

BCLP

FDI Regulation in the US, UK, France & Germany

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The regulation of foreign direct investment (“FDI”) has become an increasingly important feature of the regulatory landscape for investors. Globally, there is a trend towards greater FDI restrictions although the degree and...more

Holland & Knight LLP

CFIUS Recognizes United Kingdom, New Zealand as Excepted Foreign States

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Following enactment of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), the Committee on Foreign Investment in the United States (CFIUS) updated its regulations to include three significant changes:...more

Latham & Watkins LLP

Committee on Foreign Investment in the United States: Key Questions Answered

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The Committee on Foreign Investment in the United States (CFIUS) evaluates the US national security impact of acquisitions of "control" by foreign persons of US businesses. ...more

HaystackID

[Webcast Transcript] The Digital Great Wall: Data Protection in Today’s China

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Editor’s Note: On January 18, 2023, HaystackID shared an educational webcast on China’s emerging statutes and regulations governing the processing, disclosure, and transfer of data. As Chinese entities increasingly become...more

PilieroMazza PLLC

U.S. Treasury Issues Guidance on CFIUS Enforcement and Penalties

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On October 20, 2022, the U.S. Department of the Treasury (Treasury) released the Committee on Foreign Investment in the United States (CFIUS or the Committee) Enforcement and Penalty Guidelines (the Guidelines). The...more

Latham & Watkins LLP

New CFIUS Executive Order Outlines 5 Risk Factors: Key Takeaways

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President Biden sends a message to foreign investors and the business community that CFIUS will closely scrutinize transactions presenting certain risk factors. On September 15, 2022, President Biden issued an Executive...more

Fenwick & West LLP

Biden Administration Releases Unprecedented CFIUS Executive Order and Expected to Impose Export Controls Around Semiconductors:...

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CFIUS Executive Order Highlights Current Concerns Over Wide Range of Foreign Investments - On September 15, 2022, President Biden issued an Executive Order (“EO”) on the interagency Committee on Foreign Investment in the...more

Venable LLP

New Executive Order Directs Consideration of National Security Risks in CFIUS Reviews

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​​​​​​​On September 15, 2022, President Biden signed an executive order (EO) directing consideration of certain national security factors by the Committee on Foreign Investment in the United States (CFIUS or "the Committee")...more

White & Case LLP

Biden Issues First-Ever Presidential Directive Defining National Security Factors for CFIUS to Consider in Evaluating Transactions

White & Case LLP on

On September 15, President Biden signed an Executive Order (the "EO") identifying national security risks that the Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") must consider when reviewing...more

McDermott Will & Emery

President Biden Signs Executive Order Directing CFIUS to Focus on Specific National Security Risks

McDermott Will & Emery on

On September 15, 2022, US President Joe Biden signed an Executive Order (EO) aimed at increasing the federal government’s review of foreign investment in US businesses deemed critical to US national security interests. For...more

Holland & Knight LLP

CFIUS 2021 Annual Report: Considerations for Businesses

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The U.S. Department of the Treasury, in its role as chair of the Committee on Foreign Investment in the United States (CFIUS), released the public version of its Annual Report to Congress for Calendar Year 2021 (Annual...more

Akin Gump Strauss Hauer & Feld LLP

CFIUS Reports Significant Uptick in Filings and Non-Notified Inquiries

Key Points - According to CFIUS’s recently-released Annual Report for 2021, the total number of CFIUS filings increased significantly year-on-year, with transactions involving Chinese investors more than doubling compared...more

Dechert LLP

Highlights from Recent CFIUS Annual Report

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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

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