Program requires parties to submit to CFIUS notice of certain foreign investments in US businesses involved in specified critical technologies at least 45 days prior to closing.

Key Points:

..The US Treasury Department announced a FIRRMA-authorized pilot program implementing the expanded jurisdiction of CFIUS over non-controlling foreign investments in critical technology companies, and requiring the filing with CFIUS of mandatory declarations for such investments.

..The pilot program interim rule takes effect on November 10, 2018.