President Donald Trump on February 21, 2025 issued a National Security Presidential Memorandum titled the America First Investment Policy to provide guidance to executive departments in their review and decision-making with...more
On January 2, 2025, the US Department of Defense added a number of entities to its list of “Chinese military companies" (CMC List). While being named to this list, by itself, does not prohibit US businesses from continuing to...more
1/23/2025
/ Bureau of Industry and Security (BIS) ,
China ,
Department of Defense (DOD) ,
Economic Sanctions ,
Export Controls ,
Military End Use ,
National Security ,
NDAA ,
Office of Foreign Assets Control (OFAC) ,
Risk Management ,
Supply Chain
The US Department of Treasury published its final regulations covering the national security review process for outbound investments on October 28, 2024. The regulations impose notice and prohibition requirements on specific...more
The US Department of the Treasury on July 8, 2024 proposed updates to the Committee on Foreign Investment in the United States’s (CFIUS’s) regulations that seek to expand the list of military installations for which proximity...more
The Government Accountability Office (GAO) has issued its report on the national security implications of how the US government collects, shares, and considers foreign purchases and ownership of US agricultural land. It...more
The US-China Economic and Security Review Commission released on November 14 its annual report for 2023—2023 Report to Congress: US-China Economic and Security Review Commission—issuing recommendations to track the Biden...more
The Biden administration issued a long-anticipated executive order on August 9 regarding US outbound investment in select technology and products with national security applications produced by “countries of concern.”...more
The US government’s multibranch effort to implement a new regulatory regime designed to regulate outbound investments based on national security concerns moved forward with the White House’s August 9, 2023 Executive Order, EO...more
The Committee on Foreign Investment in the United States (CFIUS or Committee) recently released its annual report for 2022. The report contains data that provides potentially useful insights into how CFIUS is functioning, the...more
The US Senate approved an amendment to the National Defense Authorization Act adding mandatory notifications of certain outbound investments in certain countries, including the People’s Republic of China....more
The Committee on Foreign Investment in the United States (CFIUS) caught some lawyers and businesses off guard in early May 2023 when it issued new Frequently Asked Questions (FAQ) indicating that staged transactions that...more
While the longstanding review by the United States of cross-border investments for national security implications might sound like the same old song, several important developments in recent years should give investors and...more
This Insight outlines, at a high level, the prior US outbound investment regime, its structure, and some reasons for its ultimate demise. We discuss some useful lessons from the prior attempt and identify areas where...more
Congress recently passed and sent to the president the Protecting American Intellectual Property Act of 2022. The act mandates sanctions on entities and individuals identified by the executive branch as having committed...more
President Joseph Biden’s recently issued Executive Order provides guidance related to the US national security foreign direct investment review process administered by the Committee on Foreign Investment in the United States....more
9/22/2022
/ Biden Administration ,
CFIUS ,
Corporate Counsel ,
Critical Infrastructure Sectors ,
Defense Production Act ,
Executive Orders ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
National Security ,
Supply Chain
Concerns are growing over the national security impact of real estate purchases by foreign persons, only a small portion of which are reviewed by the Committee on Foreign Investment in the United States (CFIUS). These...more
Given its existing limitations, the Committee on Foreign Investment in the United States is ready for its next evolution—not a tweaking around the edges of an existing process that continues to perpetuate limitations to the...more
President Trump’s Executive Order Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies (EO 13959) prohibits transactions by or on behalf of US persons in publicly traded...more
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published final rules on January 15, 2021, implementing the sanctions put in place by Executive Order 13936 (EO 13936) and the Hong Kong Autonomy Act...more
2/1/2021
/ China ,
Economic Sanctions ,
Executive Orders ,
Foreign Entities ,
Foreign Relations ,
General Licenses ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
Office of Foreign Assets Control (OFAC)
The US Department of Commerce’s Bureau of Industry and Security (BIS) published an Interim Final Rule on January 15 to implement changes to, and impose new licensing obligations under, the Export Administration Regulations...more
1/28/2021
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
End-Users ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Foreign Policy ,
General Licenses ,
National Security ,
WMD
The secretary of the US Department of Energy (DOE) issued an order on December 17 prohibiting electric utilities from installing equipment or components provided by Chinese companies in electric facilities serving designated...more
The new Executive Order (EO or the Order) bans transactions by US persons in publicly traded securities of companies identified as “Chinese military companies,” and includes a ban on trading in derivatives of those securities...more
11/18/2020
/ China ,
ETFs ,
Executive Orders ,
Foreign Policy ,
Foreign Relations ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Publicly-Traded Companies ,
Securities Transactions ,
Trump Administration
The US Secretary of the Treasury announced sanctions this summer on 11 individuals who the Secretary views as being involved in implementing the recently enacted Law of the People’s Republic of China on Safeguarding National...more
President Donald Trump issued Executive Order 13936 on July 14 titled “The President’s Executive Order on Hong Kong Normalization” (the Executive Order or EO 13936). On the same day, the Hong Kong Autonomy Act (HR 7440) was...more
7/29/2020
/ China ,
Economic Sanctions ,
Executive Orders ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Preferential Trade Status ,
Risk Management ,
SDN List ,
Trump Administration
This LawFlash provides an overview of the recent executive order limiting the US use of bulk-power system equipment produced by “foreign adversaries,” initial guidance on key questions, and issues that will remain unresolved...more