- 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
Key Points
- On January 13, 2020, the U.S. Department of Treasury released final rules implementing FIRRMA, which reforms the CFIUS framework. These rules will take effect on February 13, 2020.
- The final rules...more
1/16/2020
/ Acquisitions ,
CFIUS ,
Critical Infrastructure Sectors ,
Filing Requirements ,
Final Rules ,
FIRRMA ,
Foreign Investment ,
Mergers ,
National Security ,
Personal Data ,
Principal Place of Business ,
Proposed Regulation ,
Public Comment ,
U.S. Treasury
• The U.S. Department of Treasury released proposed rules implementing the Foreign Investment Risk Review Modernization Act (FIRRMA) on September 17, 2019. Among other measures, these rules would establish how the Committee...more
9/23/2019
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Export Control Reform Act (ECRA) ,
FIRRMA ,
Foreign Investment ,
Interstate Commerce ,
National Security ,
Proposed Regulation ,
Proposed Rules ,
Public Comment ,
Real Estate Transactions ,
U.S. Treasury
• On August 7, the DOD, GSA, and NASA released a prepublication version of an Interim Final Rule implementing paragraph (a)(1)(A) of § 889 of the 2019 NDAA. The rule is effective next Tuesday, August 13, 2019.
• Among its...more
8/12/2019
/ CFIUS ,
Department of Defense (DOD) ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
FIRRMA ,
General Services Administration (GSA) ,
Interim Final Rules (IFR) ,
NASA ,
NDAA ,
New Rules ,
Public Comment ,
Reporting Requirements ,
Surveillance ,
Telecommunications
• On October 10, 2018, CFIUS announced a pilot program that implements significant provisions of FIRRMA. The program becomes effective November 10, 2018.
• Under the program, CFIUS jurisdiction will be expanded to cover...more
10/11/2018
/ CFIUS ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Emerging Technology Companies ,
Federal Pilot Programs ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Manufacturers ,
NAICS ,
National Security ,
Trump Administration
• FIRRMA broadens the scope of a CFIUS review beyond transactions that could result in a foreign person gaining the ability to control a U.S. business. Consequently, more energy deals could be captured through expanded...more
9/28/2018
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Emerging Technology Companies ,
Energy Sector ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Investors ,
Jurisdiction ,
Material Nonpublic Information ,
National Security ,
Oil & Gas ,
Personal Data ,
Real Estate Transactions ,
Renewable Energy ,
Reporting Requirements ,
Risk Mitigation ,
Safe Harbors ,
Trump Administration ,
Utilities Sector
• ECRA became law on August 13, 2018. It is the permanent statutory authority for the EAR, which is administered by the U.S. Department of Commerce’s BIS. The new law codifies long-standing BIS policies and does not require...more
9/12/2018
/ Arms Embargo ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Commerce Control List ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Defense Sector ,
Economic Sanctions ,
Emerging Technology Companies ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Control Reform (ECR) ,
Export Controls ,
Exports ,
FIRRMA ,
Foreign Corporations ,
Foreign Investment ,
Foreign Policy ,
International Emergency Economic Powers Act (IEEPA) ,
Licensing Rules ,
National Security ,
NDAA ,
New Legislation ,
Notice and Comment ,
Office of Foreign Assets Control (OFAC) ,
Penalties ,
Regulatory Reform ,
Reporting Requirements ,
Secretary of State ,
Technology Sector ,
U.S. Commerce Department
CFIUS will continue to have broad jurisdiction to conduct national security reviews of foreign investments that could result in foreign control of a U.S. business. When regulations implementing FIRRMA become effective within...more
8/13/2018
/ Annual Reports ,
Bankruptcy Court ,
CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Data Security ,
Declaration ,
Emerging Technology Companies ,
Export Control Reform (ECR) ,
Export Controls ,
Federal Pilot Programs ,
Filing Deadlines ,
Filing Fees ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Information Sharing ,
Investors ,
Judicial Review ,
Jurisdiction ,
Material Nonpublic Information ,
National Security ,
NDAA ,
New Legislation ,
Personally Identifiable Information ,
Reporting Requirements ,
Trump Administration ,
U.S. Commerce Department
Today, President Trump will sign the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). This bill expands the purview of CFIUS, which will now have jurisdiction over real estate transactions near sensitive...more