For the first time since 2001, in an unanimous vote, the Federal Communications Commission (the "FCC") is proposing a major overhaul of its submarine cable licensing rules in its recently released Notice of Proposed...more
Now in its seventh year of annual publication, White & Case's Foreign Direct Investment Reviews provides a comprehensive look into rapidly evolving foreign direct investment (FDI) laws and regulations in approximately 40...more
3/22/2023
/ Acquisitions ,
Anti-Monopoly ,
Asia Pacific ,
Australia ,
Austria ,
Belgium ,
Canada ,
CFIUS ,
China ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Cross-Border ,
Cybersecurity ,
Czech Republic ,
Denmark ,
EMEA ,
Estonia ,
EU ,
EU Screening Regulation ,
Finland ,
Foreign Direct Investment ,
Foreign Investment ,
France ,
Germany ,
Hungary ,
Iceland ,
India ,
Investment ,
Investors ,
Italy ,
Japan ,
Korea ,
Latvia ,
Legislative Agendas ,
Lithuania ,
Luxembourg ,
Malta ,
Member State ,
Mergers ,
Mexico ,
Middle East ,
National Security ,
Netherlands ,
New Legislation ,
New Zealand ,
Norway ,
Poland ,
Popular ,
Portugal ,
Romania ,
Slovakia ,
Slovenia ,
Spain ,
Sweden ,
Switzerland ,
Taiwan ,
Turkey ,
UK ,
United Arab Emirates (UAE) ,
United States
EO 14083 clearly articulates national security risks that the Committee must consider when reviewing covered transactions. The five areas of focus are: supply chain resilience; impact on US technological leadership;...more
2/7/2023
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Executive Orders ,
Foreign Investment ,
Joe Biden ,
National Security ,
Sensitive Personal Information ,
Supply Chain ,
U.S. Treasury
On September 15, President Biden signed an Executive Order (the "EO") identifying national security risks that the Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") must consider when reviewing...more
9/20/2022
/ Biden Administration ,
CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Cybersecurity ,
Executive Orders ,
Foreign Investment ,
National Security ,
Supply Chain ,
Technology
President Joe Biden's approach to the national security risks posed by foreign-backed M&A may differ in style from his predecessor, but not in substance -
Under the Biden administration, the Committee on Foreign Investment...more
Most deals are approved, but new rules covering more types of transactions and requiring mandatory filings in certain cases have changed the landscape -
The Committee on Foreign Investment in the United States (CFIUS),...more
11/18/2020
/ CFIUS ,
Critical Infrastructure Sectors ,
Export Control Reform Act (ECRA) ,
Export Controls ,
Filing Requirements ,
FIRRMA ,
Foreign Direct Investment ,
Foreign Investment ,
National Security ,
National Security Review Proceedings ,
Scope of Review
On September 15, 2020, the US Treasury Department published a final rule modifying the mandatory Committee on Foreign Investment in the United States (CFIUS) filing requirements for certain foreign investments in US...more
There have been several recent developments related to the Committee on Foreign Investment in the United States (CFIUS). Most notably, CFIUS has released a proposed rule that would change the mandatory filing criteria for...more
5/29/2020
/ Case Management ,
CFIUS ,
Critical Infrastructure Sectors ,
Export Administration Regulations (EAR) ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
ITAR ,
Mandatory Declarations ,
NAICS ,
National Security ,
National Security Review Proceedings ,
Proposed Amendments ,
Technology Sector
Prior to the outbreak of the COVID-19 pandemic, there had been a growing and global trend of established Western economies increasingly scrutinising foreign investment in key sectors. FDI restrictions have been on the...more
5/29/2020
/ Belt and Road Initiative (BRI) ,
Blocked Mergers ,
China ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
EU ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
Member State ,
Mergers ,
National Security ,
National Security Review Proceedings ,
Non-EU Investors ,
Popular
The regulations implementing the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which significantly expanded the jurisdiction and authorities of the Committee on Foreign Investment in the United States...more
3/10/2020
/ Blocked Mergers ,
CFIUS ,
China ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Divestiture ,
Filing Fees ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
National Security ,
Real Estate Investments ,
Technology Sector ,
Trump Administration
Nearly a year and a half after the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) was enacted, authorizing the most substantial overhaul of the Committee on Foreign Investment in the United States (CFIUS)...more
1/22/2020
/ Amended Regulation ,
CFIUS ,
Corporate Counsel ,
Covered Real Estate Transactions ,
Critical Infrastructure Sectors ,
Data Collection ,
Excepted Investors ,
Final Rules ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Governments ,
Foreign Investment ,
Investment Funds ,
Jurisdiction ,
National Security ,
Non-Controlling Interests ,
Penalties ,
Principal Place of Business ,
Real Estate Investments ,
Real Estate Transactions ,
Sensitive Personal Information ,
State-Owned Enterprises ,
Technology Sector
While few deals are challenged in Canada, national security reviews are becoming more common and complex.
The Investment Review Division (IRD), which is part of the Ministry of Innovation, Science and Economic Development...more
12/30/2019
/ Acquisitions ,
Canada ,
Critical Infrastructure Sectors ,
Filing Requirements ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
Investment Canada Act ,
Investment Review Division (IRD) ,
Mergers ,
National Security ,
National Security Review Proceedings ,
Threshold Requirements
Most deals are approved, but the landscape is becoming increasingly complex, as more types of transactions are subject to review and some filings are mandatory.
The Committee on Foreign Investment in the United States...more
12/28/2019
/ Best Practices ,
CFIUS ,
China ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
Mandatory Declarations ,
National Security ,
National Security Review Proceedings ,
Risk Assessment ,
Technology Sector ,
Trump Administration ,
United States
On September 17, the US Department of the Treasury issued comprehensive proposed regulations to implement the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). This alert describes key aspects of the proposed...more
10/3/2019
/ CFIUS ,
Critical Infrastructure Sectors ,
Exemptions ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Jurisdiction ,
National Security ,
Personal Data ,
Proposed Regulation ,
Public Comment ,
Real Estate Transactions ,
Technology Sector ,
U.S. Treasury
The US M&A market delivered another year of strong performance in 2018. Though deal volume dipped 2 percent year-on-year to 5,682 deals, deal value was up by 15 percent over the period, to US$1.5 trillion -
A number of...more
2/7/2019
/ Acquisitions ,
Antitrust Violations ,
Blocked Mergers ,
CFIUS ,
China ,
Corporate Taxes ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Department of Justice (DOJ) ,
Dow Jones ,
Equity Compensation ,
Equity Grants ,
Federal Trade Commission (FTC) ,
FIRRMA ,
GDP ,
Health IT ,
Mandatory Declarations ,
Merger Controls ,
Mergers ,
NAFTA ,
National Security Review Proceedings ,
Oil Prices ,
Popular ,
Qualcomm ,
Tariffs ,
Tax Cuts and Jobs Act ,
Tax Rates ,
Trump Administration ,
United States-Mexico-Canada Agreement (USMCA) ,
Vertical Mergers