While the total number of filings declined in comparison to recent years, CFIUS's latest Annual Report to Congress highlights an uptick in penalties and an increased use of enforcement tools relating to national...more
On July 8, 2024, the U.S. Department of the Treasury ("Treasury") issued a proposed rule to expand the Committee on Foreign Investment in the United States' ("CFIUS") jurisdiction over certain categories of foreign investment...more
On April 11, 2024, the Treasury Department announced a prepublication copy of a proposed rule amending the regulations of the Committee on Foreign Investment in the United States ("CFIUS") (the "Proposed Rule")....more
In a coordinated announcement, federal agencies stress the benefits of voluntarily disclosing potential trade violations while emphasizing increased enforcement....more
8/22/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Economic Sanctions ,
Export Controls ,
FinCEN ,
Foreign Agents Registration Act (FARA) ,
National Security ,
Non-Prosecution Agreements ,
Office of Foreign Assets Control (OFAC) ,
U.S. Commerce Department ,
U.S. Treasury ,
Voluntary Disclosure ,
Whistleblowers ,
White Collar Crimes
The Committee on Foreign Investment in the United States ("CFIUS") has released its first-ever enforcement and penalty guidelines—putting industry on notice and inviting self-disclosures....more
On September 15, 2022, President Biden issued an EO "elaborating and expanding" upon the factors CFIUS must consider as part of its national security review process. Although the EO does not change the formal CFIUS process or...more
In Short -
The Situation: In early August 2022, the Department of the Treasury's Committee on Foreign Investment in the United States ("CFIUS" or "the Committee") released its new annual report. ...more
The Situation: Later this month, transactions in the information and communication technology and services ("ICTS") sector that involve designated "foreign adversaries" will be subject to review by the U.S. Department of...more
The Situation: The U.S. Department of the Treasury ("Treasury Department") recently issued proposed regulations that will alter and in some cases expand the scope of critical technology foreign investments subject to...more
6/23/2020
/ CFIUS ,
Critical Infrastructure Sectors ,
Export Administration Regulations (EAR) ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
ITAR ,
National Security ,
New Rules ,
Proposed Regulation ,
U.S. Treasury
The Situation: The Committee on Foreign Investment in the United States ("CFIUS," or the "Committee") recently published draft regulations implementing the Foreign Investment Risk Review Modernization Act ("FIRRMA"), which...more
10/31/2019
/ Biotechnology ,
CFIUS ,
Cross-Border Transactions ,
Data Collection ,
Draft Guidance ,
Export Administration Regulations (EAR) ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
ITAR ,
Life Sciences ,
National Security ,
Personal Data ,
Real Estate Transactions
Signed into law in August 2018, the Export Control Reform Act ("ECRA") significantly alters U.S. export policy by placing new emphasis and potential controls on critical technologies essential to the nation's security. As...more
On May 11, 2018, the U.S. Senate Committee on Banking, Housing and Urban Affairs ("Committee") released a "discussion draft" of the Committee's amendment to the Foreign Investment Risk Review Modernization Act of 2017...more
While 2017 was an evolutionary year for the Committee on Foreign Investment in the United States ("CFIUS"), 2018 portends to be a revolutionary year. A number of factors, including a new President, growing concerns over...more
Congress recently introduced two pieces of legislation that could significantly change foreign direct investment review in the United States. The Foreign Investment Risk Review Modernization Act of 2017 ("FIRRMA") seeks to...more
The Situation: CFIUS recently released its annual report to Congress regarding transactions reviewed by CFIUS during 2015, as well as limited information regarding transactions reviewed during 2016....more
10/13/2017
/ Acquisitions ,
Annual Reports ,
CFIUS ,
China ,
Corporate Counsel ,
Financial Transactions ,
Foreign Investment ,
Investigations ,
Mergers ,
Mitigation ,
National Security