On 7 March 2023, U.S. Senators Mark Warner and John Thune introduced the Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT) Act, sweeping legislation aimed at...more
On February 10, 2023, the Committee on Foreign Investment in the United States determined that New Zealand and the United Kingdom have satisfied the excepted foreign state determination requirements....more
The United States Department of Commerce’s Bureau of Industry and Security has issued regulations to amend the Export Administration Regulations to implement changes to controls of certain viruses, marine toxins, plant...more
As the industry readies itself for the January 2023 pilgrimage to the J.P. Morgan Healthcare Conference (JPM) and Biotech Showcase in San Francisco, our market-leading life sciences and health care industry team has prepared...more
This alert discusses two major updates related to the Committee on Foreign Investment in the United States (“CFIUS,” or the “Committee”) in the past several weeks. First, on 2 August 2022, the Committee released the CFIUS...more
9/21/2022
/ Biden Administration ,
CFIUS ,
China ,
Cybersecurity ,
Emerging Technology Companies ,
Executive Orders ,
FIRRMA ,
Foreign Investment ,
National Security ,
Popular ,
Supply Chain
On 29 June 2020, the final rule expanding the military end user/user controls (MEU) issued by the Bureau of Industry and Security (BIS) went into effect. On 26 June 2020, BIS issued an FAQs guidance document that provides...more
On 27 May 2020 U.S. Secretary of State Pompeo certified to Congress that the State Department no longer considers Hong Kong to have significant autonomy from China and therefore "Hong Kong does not continue to warrant...more
CFIUS Publishes 2018 Annual Report -
The Committee on Foreign Investment in the United States (CFIUS), a U.S. government interagency committee that conducts national security reviews of foreign investments, recently...more
Representative Jim Banks introduced a bill on 5 May 2020 to “place temporary restrictions on acquisitions [of U.S. companies] by the People’s Republic of China. . .” during the COVID-19 pandemic. ...more
5/14/2020
/ CFIUS ,
China ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Legislative Agendas ,
National Security ,
National Security Review Proceedings ,
Trump Administration
As of 16 March 2020 Iran Air and a number of other entities were placed on the Bureau of Industry and Security's (BIS) Entity List.
Summary -
Companies that use Iran Air as transport, particularly companies engaging in...more
3/17/2020
/ Airlines ,
Aviation Industry ,
Bureau of Industry and Security (BIS) ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Foreign Policy ,
General Licenses ,
Iran ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions
On 24 February 2020 the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce published a final rule amending the Export Administration Regulations (EAR) and imposing additional export licensing...more
2/28/2020
/ Aircraft ,
Biological-Weapons ,
Bureau of Industry and Security (BIS) ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Foreign Relations ,
Licensing Rules ,
National Security ,
Nuclear Weapons ,
Russia ,
Software ,
U.S. Commerce Department ,
Vessels ,
Yemen
On 13 December 2019 the U.S. Department of Justice's (DOJ) National Security Division (NSD) announced the release of its long-anticipated and updated Export Control and Sanction Enforcement Policy for Business Organizations...more
12/19/2019
/ Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Authority ,
Export Controls ,
FCPA Guidance ,
National Security ,
Policy Statement ,
Sanction Violations ,
Self-Reporting ,
Trade Relations ,
Willful Misconduct
The Committee on Foreign Investment in the United States (CFIUS or the committee), a U.S. government interagency committee that conducts national security reviews of foreign investments, has released its annual report for...more
After Congress failed to enact appropriations legislation, the United States federal government partially shut down beginning at midnight on 22 December 2018, impacting several departments, agencies, and interagency...more
1/4/2019
/ CFIUS ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Federal Funding ,
Federal Trade Commission (FTC) ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Government Shutdown ,
Hart-Scott-Rodino Act ,
National Security ,
Regulatory Agencies ,
Trump Administration
The Commerce Department is soliciting public input on identification of certain "emerging technologies" for purposes of new export controls and the recently expanded jurisdiction of the Committee on Foreign Investment in the...more
The Department of the Treasury recently released interim rules establishing a pilot program under the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) that mandates filings for foreign investments in certain...more
10/24/2018
/ CFIUS ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Federal Pilot Programs ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
National Security ,
National Security Review Proceedings ,
Private Equity Funds ,
Technology Sector
The Department of the Treasury has released two new interim rules that (i) update existing regulations regarding the Committee on Foreign Investment in the United States (CFIUS) pursuant to the Foreign Investment Risk Review...more
On 8 August, the U.S. Department of State announced that new sanctions would be imposed on Russia pursuant to the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 (CBW Act). The sanctions relate to...more
The Foreign Investment Risk Review Modernization Act (FIRRMA), included in the reconciled Conference Report of the FY19 National Defense Authorization Act, substantially expands the jurisdiction of the Committee on Foreign...more
8/6/2018
/ Acquisitions ,
Amended Rules ,
Carve Out Provisions ,
CFIUS ,
Covered Transactions ,
Defense Production Act ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Hedge Funds ,
Investment Funds ,
Mergers ,
National Security ,
National Security Review Proceedings ,
NDAA ,
Private Equity ,
Venture Capital
Export compliance continues to be complicated for companies involved in business with China. On 1 August 2018, the U.S. Department of Commerce's Bureau of Industry and Security (BIS) expanded the Entity List, restricting...more
Congress has moved closer to expanding the jurisdiction and powers of the Committee on Foreign Investment in the United States (CFIUS), the U.S. interagency committee that conducts national security reviews of foreign...more
8/2/2018
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Export Controls ,
Financial Regulatory Reform ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Legislative Agendas ,
National Security ,
Passive Activity ,
Pending Legislation ,
Trump Administration
Driven by concerns of China’s acquisition of advanced U.S. technologies, the U.S. Congress is set to enact the most significant reform to the Committee on Foreign Investment in the United States (CFIUS) in over a decade....more
6/29/2018
/ CFIUS ,
China ,
Covered Transactions ,
Emerging Technology Companies ,
FIRRMA ,
Foreign Investment ,
Legislative Agendas ,
National Security ,
Passive Investments ,
Pending Legislation ,
Trump Administration
As potential trade war looms, nearly 1,300 U.S.-imports may be subject to additional 25 percent tariffs under Section 301.
U.S. imports from China potentially subject to additional duties include certain chemicals,...more
4/9/2018
/ Aluminum Sales ,
China ,
Foreign Relations ,
Global Market ,
Imports ,
National Security ,
Steel Industry ,
Tariffs ,
Trade Relations ,
Trump Administration ,
US Trade Policies ,
USTR
On 12 March 2018, President Trump issued an order blocking the proposed hostile takeover of Qualcomm Incorporated, a semiconductor and telecommunications equipment company headquartered in California, by Broadcom Limited, a...more
This client alert updates readers on the introduction of legislation in the US Congress that, if enacted, would result in significant changes to CFIUS, the U.S. government interagency committee that conducts national security...more