The Committee on Foreign Investment in the United States (“CFIUS”) recently published its Annual Report to Congress covering calendar year 2023 (the “Report”). The Report indicates a number of notable trends—some new and...more
The Committee on Foreign Investment in the United States (CFIUS) recently issued a new Frequently Asked Question (FAQ) that updates CFIUS's interpretation of the "completion date" for a transaction, which represents a...more
On October 20, 2022, the US Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), released the first-ever CFIUS Enforcement and Penalty Guidelines (Guidelines). The...more
In its Annual Report to Congress for calendar year 2021, CFIUS reported a nearly 40 percent increase in overall CFIUS filings in 2021 from 2020. Notwithstanding this substantial increase in volume, the metrics indicate that...more
Expanded jurisdiction, mandatory filings and a substantially increased pursuit of non-notified transactions have changed the landscape -
The Committee on Foreign Investment in the United States (CFIUS), which is led by the...more
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
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