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 with CFIUS in 2018, the most recent year for which data has been declassified, and all reviews or investigations completed during the year (“Annual Report”).

- The Annual Report is particularly important as it marks the first data set for reviews and investigations completed since the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) became law (though only certain changes to CFIUS regulations made by FIRRMA were effective in 2018).

- The report holds important insights for foreign acquirers contemplating acquisitions and other investments in the United States.