The Notice of Proposed Rulemaking (NPRM or the Proposed Rule), issued by Treasury on June 21, 2024, would implement President Biden’s August 9, 2023, Executive Order on outbound investment, which addresses concerns related to...more
7/2/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
China ,
Debt Financing ,
Economic Sanctions ,
Export Controls ,
Investment ,
National Security ,
Notice of Proposed Rulemaking (NOPR) ,
Proposed Regulation ,
SDN List ,
Semiconductors ,
Technology Sector ,
U.S. Treasury
On April 24, 2024, President Biden signed into law H.R. 815, a national security and foreign aid package which includes the “Protecting Americans’ Data from Foreign Adversaries Act of 2024” (“PADFA”). The Act establishes new...more
While media reporting has predominantly focused on the provisions in the emergency foreign aid package that President Biden signed into law on April 24, 2024 that provides funding for Ukraine, Israel and Taiwan, House Foreign...more
5/1/2024
/ Department of Justice (DOJ) ,
Drug Trafficking ,
Economic Sanctions ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
New Legislation ,
Office of Foreign Assets Control (OFAC) ,
Reporting Requirements ,
Sanction Violations ,
Statute of Limitations ,
TWEA
Key Points - On April 15, 2024, the Treasury Department published a proposed rule that would amend the Committee on Foreign Investment in the United States (CFIUS) regulations to expand CFIUS’s enforcement authorities....more
On March 1, 2024, the Department of Commerce (Commerce), Bureau of Industry and Security (BIS), through its Office of Information and Communication Technology and Services (ICTS), released an advanced notice of proposed...more
3/4/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Bureau of Industry and Security (BIS) ,
China ,
Executive Orders ,
Foreign Adversaries ,
National Security ,
Satellites ,
Software ,
Supply Chain ,
Telecommunications ,
U.S. Commerce Department
Key Points -
On August 9, 2023, President Biden issued a long-anticipated Executive Order on outbound investment aimed at addressing concerns related to China’s advancement in sensitive technologies critical for military,...more
On July 31, 2023, the Committee on Foreign Investment in the United States (CFIUS or the “Committee”) released its Annual Report for 2022. Overall, the statistics indicate that CFIUS is taking more time to finish its review...more
The Departments of the Treasury and Commerce recently provided reports to Congress describing plans under consideration to regulate outbound investment, as required by the 2023 Consolidated Appropriations Act. Key highlights...more
Key Points -
On February 10, 2023, CFIUS formally determined that the United Kingdom and New Zealand have established and are effectively utilizing robust processes to screen foreign investments for national security...more
Key Points -
EO 14083 provides updated guidance to CFIUS regarding its consideration of U.S. national security risk factors and is aimed at confronting evolving and emerging threats to U.S. technological leadership, U.S....more
Key Points -
According to CFIUS’s recently-released Annual Report for 2021, the total number of CFIUS filings increased significantly year-on-year, with transactions involving Chinese investors more than doubling compared...more
Key Points -
CFIUS added New Zealand to its white list of “excepted foreign states,” joining Australia, Canada and the United Kingdom in the group of countries whose investors may qualify for jurisdictional carve-outs and...more
Key Points -
On November 26, 2021, the U.S. Department of Commerce issued a notice of proposed rulemaking related to “connected software applications” (“apps”) that aims to expressly incorporate transactions involving...more
On October 18, 2021, the U.S. Treasury Department released a long awaited report on its first of its kind “top to bottom” review of U.S. economic and financial sanctions. The report does not make or recommend any immediate or...more
Key Points -
On June 9, President Biden signed an executive order (“EO”) revoking a series of Trump-era EOs targeting specific Chinese “connected software applications” (“apps”), including TikTok and WeChat.
The EO calls...more
6/23/2021
/ Biden Administration ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Department of Justice (DOJ) ,
Executive Orders ,
Foreign Adversaries ,
Mobile Apps ,
National Security ,
Personal Data ,
Popular ,
Supply Chain
On June 3, 2021, President Biden issued Executive Order 14032 (Addressing the Threat from Securities Investments that Finance Certain Companies of the People’s Republic of China) (“CMIC EO”) that modifies the Trump-era...more
Key Points
- On January 19, 2021, the U.S. Commerce Department published an interim final rule (IFR) to implement Executive Order 13873 of May 15, 2019, on “Securing the Information and Communications Technology and...more
2/11/2021
/ Biden Administration ,
CFIUS ,
Critical Infrastructure Sectors ,
Foreign Adversaries ,
Interim Final Rules (IFR) ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
Personal Data ,
Prohibited Transactions ,
Public Comment ,
Sensitive Personal Information ,
Technology Sector ,
U.S. Commerce Department
- On September 15, Treasury published a Final Rule adopting changes to the CFIUS mandatory filing framework for covered transactions involving critical technologies.
- Rather than being pegged to targeted industries...more
9/22/2020
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Exceptions ,
Export Controls ,
Exports ,
Filing Requirements ,
Final Rules ,
Foreign Investment ,
General Licenses ,
National Security ,
Technology Transfer Agreements
- On May 21, 2020, Treasury published a Proposed Rule to align the CFIUS mandatory filing framework for transactions involving critical technologies with existing export-licensing requirements.
- Under the Proposed Rule,...more
5/26/2020
/ CFIUS ,
Comment Period ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Export Controls ,
Exports ,
Filing Requirements ,
FIRRMA ,
Foreign Investment ,
General Licenses ,
National Security ,
Proposed Rules ,
Public Comment ,
Technology Sector ,
U.S. Treasury
Investment facilitation is among the new generation issues being discussed at the World Trade Organization (WTO), alongside issues such as electronic commerce and digital trade. The concept of “investment facilitation” refers...more