Cross-border M&A deals frequently present unique issues and strategic closing considerations for transaction parties to navigate—including national security approvals. In a recent Delaware Chancery Court decision, these...more
Last week, the White House issued a National Security Presidential Memorandum (“NSPM”) intended to address current national security threats while preserving an open environment for international investment....more
As the Committee on Foreign Investment in the United States (CFIUS) continues to expand its jurisdictional reach, investors, property owners, and landlords should be aware of a growing focus on real estate transactions....more
7/25/2024
/ CFIUS ,
Comment Period ,
Foreign Investment ,
Investors ,
National Security ,
Notice of Proposed Rulemaking (NOPR) ,
NPRM ,
Proposed Regulation ,
Real Estate Transactions ,
Regulatory Requirements ,
U.S. Treasury
While many venture capitalists and private equity sponsors are aware the Committee on Foreign Investment in the United States (“CFIUS”) has authority to review inbound investments in certain sensitive U.S. industries, many...more
Key Takeaways: The Treasury Department is seeking to equip CFIUS with greater enforcement and oversight authority. These new powers include the ability to request more information from transaction parties and also to assess...more
4/24/2024
/ CFIUS ,
Civil Monetary Penalty ,
Foreign Investment ,
Investors ,
National Security ,
Notice of Proposed Rulemaking (NOPR) ,
NPRM ,
Proposed Regulation ,
Real Estate Transactions ,
Regulatory Oversight ,
Regulatory Requirements ,
U.S. Treasury
On September 15, President Biden signed the first-ever Executive Order (E.O.) on CFIUS – the Committee on Foreign Investment in the United States. While the E.O. does not substantively change CFIUS’s jurisdiction or the legal...more
Earlier this month, the FCC adopted a Report & Order (“R&O”) streamlining the application review process for transactions involving foreign investment or participation in U.S. telecommunications companies (commonly known as...more
On August 6, 2020, Trump issued two separate executive orders that will severely restrict TikTok and WeChat’s business in the United States. For weeks, the media has reported on Trump’s desire to “ban” TikTok with speculation...more
8/10/2020
/ Blackmail ,
CFIUS ,
China ,
Data Collection ,
Executive Orders ,
Federal Contractors ,
Federal Employees ,
FIRRMA ,
Geolocation ,
International Emergency Economic Powers Act (IEEPA) ,
Personal Information ,
Popular ,
Secretary of Commerce ,
Social Media ,
TikTok ,
Trump Administration
On April 4th, 2020, President Trump issued an Executive Order on Establishing the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector. The Executive Order essentially...more
What is CFIUS? The Committee on Foreign Investment in the United States, or CFIUS, is an interagency committee chaired by the Secretary of the Treasury which is authorized to review and approve transactions involving foreign...more
9/26/2019
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
FIRRMA ,
Foreign Investment ,
Global Dealmaking ,
National Security ,
Proposed Regulation ,
Proposed Rules ,
Public Comment ,
Real Estate Transactions ,
U.S. Treasury
Key Takeaways:
• Technology Infrastructure and Data. CFIUS will focus its review on investments in critical Technology, critical Infrastructure, and sensitive personal Data (“TID Businesses”).
• Critical technologies is...more
9/23/2019
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Defense Production Act ,
Exon-Florio ,
Export Control Reform Act (ECRA) ,
FIRRMA ,
Foreign Investment ,
Interstate Commerce ,
National Security ,
Proposed Regulation ,
Proposed Rules ,
Real Estate Transactions
• On October 10, 2018, the Committee on Foreign Investment in the United States put into effect the first mandatory filing requirement ever imposed by CFIUS. The Department of Treasury’s summary of the Pilot Program is...more
• CFIUS takes an unprecedented step to fend off a potential foreign acquisition
• The threat that China will eclipse the U.S. in telecommunications infrastructure and technology is central to U.S. national security
•...more
3/9/2018
/ 5G Network ,
Advisory Opinions ,
Board of Directors ,
Broadcom ,
CFIUS ,
China ,
Corporate Counsel ,
Cross-Border Transactions ,
Foreign Acquisitions ,
Foreign Investment ,
Hostile Takeover ,
Infrastructure ,
Mergers ,
National Security ,
Qualcomm ,
Smartphones ,
Stockholders' Meetings ,
Takeover Bids ,
Technology Sector ,
Telecommunications ,
US Trade Policies
Last month, the Committee on Foreign Investment in the United States (“CFIUS”) released its annual report to Congress for 2015 (the “2015 Annual Report”) and its cumulative table summarizing foreign investment activity from...more
10/16/2017
/ Annual Reports ,
CFIUS ,
Corporate Counsel ,
Cross-Border Transactions ,
Data Breach ,
Foreign Acquisitions ,
Foreign Investment ,
Government Investigations ,
National Security ,
National Security Review Proceedings ,
Regulatory Oversight
On September 30, 2016, the FCC adopted an order designed to liberalize and streamline the foreign ownership review process for broadcast licensees (the “Broadcast Liberalization Order”). Section 310(b) of the Communications...more
10/11/2016
/ Broadcast Liberalization Order ,
Broadcasting ,
CFIUS ,
Citizenship ,
Communications Act 2003 ,
Declaratory Rulings ,
FCC ,
Foreign Investment ,
Foreign Ownership ,
Licensing Rules ,
Publicly-Traded Companies ,
Shareholders
In a stunning ruling issued on July 15, 2014, the U.S. Court of Appeals for the D.C. Circuit held that review by the Committee on Foreign Investment in the United States (“CFIUS”) and the subsequent unwinding of the...more