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 25, 2023, the U.S. Department of Commerce (“Commerce”) issued the final rule (the “Final Rule”) regarding the use of funds offered under the CHIPS and Science Act (the “CHIPS Act”).
The Final Rule...more
10/11/2023
/ Clawbacks ,
Export Administration Regulations (EAR) ,
Export Controls ,
Final Rules ,
Importers ,
National Security ,
NIST ,
Risk Management ,
Risk Mitigation ,
Semiconductors ,
U.S. Commerce Department
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
On April 18, 2023, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) Assistant Secretary for Export Enforcement, Matthew Axelrod, published a memorandum marking a shift in policy regarding voluntary...more
Key Takeaways The CHIPS Program Office of the U.S. Department of Commerce's National Institute of Standards and Technology (“NIST”) proposed a rule that describes the expected procedure for reviewing outbound investments...more
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
The Department of Commerce, Bureau of Industry and Security (“BIS”), published an advance notice of proposed rulemaking (“the Notice”), on August 27, 2020, announcing the initiation of its review of foundational technologies...more
9/5/2020
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Bureau of Industry and Security (BIS) ,
Commodities ,
ECCNs ,
Export Control Reform Act (ECRA) ,
Export Controls ,
Exports ,
Popular ,
Proposed Amendments ,
Request For Information ,
Software ,
Technology Sector ,
U.S. Commerce Department
On April 28, 2020, the Commerce Department’s Bureau of Industry and Security (“BIS”) published two final rules and one proposed rule targeting national security controlled exports and reexports to China, Russia, and...more
4/30/2020
/ Bureau of Industry and Security (BIS) ,
China ,
Commerce Control List ,
ECCNs ,
End-Users ,
Exemptions ,
Export Controls ,
Exports ,
Final Rules ,
Licensing Rules ,
Military End Use ,
National Security ,
Reporting Requirements ,
Russia ,
U.S. Commerce Department ,
US Trade Policies ,
Venezuela
On November 27, the U.S. Department of Commerce issued a proposed rule and request for comment relating to its implementation of the May 15, 2019 Executive Order (“EO”) 13873, “Securing the Information and Communications...more
12/2/2019
/ Blocking Statutes ,
CFIUS ,
Critical Infrastructure Sectors ,
Executive Orders ,
Export Control Reform Act (ECRA) ,
Foreign Acquisitions ,
Foreign Adversaries ,
Imports ,
Information and Communication Technology (ICT) ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
Proposed Regulation ,
Proposed Rules ,
Public Comment ,
Secretary of Commerce ,
Supply Chain ,
Telecommunications ,
U.S. Commerce Department
The United States put into effect new tariffs on July 6, 2018, on roughly US$34 billion in Chinese products. In response, the Chinese government instituted retaliatory tariffs on a comparable quantity of U.S. products....more
7/6/2018
/ Automotive Industry ,
Canada ,
China ,
EU ,
Exports ,
Imports ,
Intellectual Property Protection ,
Mexico ,
Tariffs ,
Technology Sector ,
Trump Administration ,
U.S. Commerce Department ,
USTR
While the rules regarding CFIUS review have remained largely unchanged over the past decade, CFIUS has operated under a new paradigm in recent years. After the U.S. government blocked just two transactions from its inception...more
6/21/2018
/ CFIUS ,
China ,
Corporate Counsel ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Disparate Treatment ,
Export Controls ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
Intellectual Property Protection ,
National Security ,
NDAA ,
Passive Investments ,
Pending Legislation ,
Real Estate Investments ,
Rollbacks ,
Sanctions ,
Telecommunications ,
Transfer of Control ,
Trump Administration ,
U.S. Commerce Department ,
ZTE
For many U.S. asset managers and other financial services providers, the recent BE-10 Benchmark Survey of U.S. Direct Investment Abroad (BE-10) and the upcoming BE-180 Benchmark Survey of Financial Services Transactions...more
10/7/2015
/ Asset Management ,
BEA ,
Benchmarks ,
Cross-Border Transactions ,
Financial Institutions ,
Foreign Direct Investment ,
Foreign Investment ,
Form BE-10 ,
Reporting Requirements ,
Surveys ,
U.S. Commerce Department
U.S. Commerce and Treasury Department measures intended to further ease existing export and sanctions restrictions regarding Cuba took effect on September 21, 2015. These amendments to the Cuban Assets Control Regulations...more
In the fall of 2015, the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) will administer its next Benchmark Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign...more
9/16/2015
/ Aggregation Rules ,
Asset Management ,
Banks ,
BE-180 ,
BEA ,
Benchmarks ,
Broker-Dealer ,
Cross-Border Transactions ,
Filing Deadlines ,
Financial Institutions ,
Foreign Financial Assets ,
Investment Adviser ,
Investment Funds ,
Surveys ,
U.S. Commerce Department
The U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) added the Yuzhno-Kirinskoye Field, a Russian oil and gas field, to the Entity List on August 7, 2015. The action effectively prohibits all persons from...more
On Thursday, May 28, the Bureau of Economic Analysis (BEA) issued an automatic one month extension to all first time filers of the BE-10 Benchmark Survey of U.S. Direct Investment Abroad. The extension grant, coming one day...more
This article originally was published in the Winter 2015 Edition of the Dechert Private Equity Newsletter but has been updated to reflect recent guidance from the U.S. Commerce Department’s Bureau of Economic Affairs (BEA) on...more
4/23/2015
/ BEA ,
Covered Transactions ,
Filing Deadlines ,
Foreign Direct Investment ,
Foreign Investment ,
Foreign Ownership ,
Form BE-10 ,
Form BE-13 ,
Private Equity ,
Private Equity Funds ,
Reporting Requirements ,
U.S. Commerce Department