Under the final regulations, CFIUS filings for certain transactions will be required, and CFIUS will have broader jurisdiction to review certain foreign investments.
On January 13, 2020, the US Treasury Department published...more
1/22/2020
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Australia ,
Bureau of Industry and Security (BIS) ,
Canada ,
CFIUS ,
Corporate Counsel ,
Critical Infrastructure Sectors ,
Federal Pilot Programs ,
Final Rules ,
FIRRMA ,
Foreign Investment ,
Jurisdiction ,
NAICS ,
National Security ,
Private Equity ,
Real Estate Transactions ,
U.S. Commerce Department ,
UK
This guide summarizes certain considerations for a non-US acquirer considering an acquisition of a publicly traded US-based company in a negotiated (i.e., friendly) transaction.
In addition to market dynamics and business...more
1/14/2020
/ Acquisition Agreements ,
Acquisitions ,
CFIUS ,
Complex Corporate Transactions ,
Corporate Financing ,
Due Diligence ,
Hart-Scott-Rodino Act ,
Hostile Takeover ,
Mergers ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Risk Management ,
Shareholder Approval ,
Shareholder Litigation ,
Shareholders ,
Strategic Planning ,
Target Company
The revised policy both clarifies and expands DOJ’s prior disclosure guidance.
On December 13, 2019, the United States Department of Justice (DOJ) revised its policy regarding voluntary self-disclosures (VSDs) of...more
The number of CFIUS notices filed is growing, more cases are extending into an investigation phase, and instances of pulling and refiling CFIUS notices are increasing.
On November 22, 2019, the Committee on Foreign...more
11/27/2019
/ Acquisitions ,
Annual Reports ,
CFIUS ,
China ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Federal Pilot Programs ,
FIRRMA ,
Foreign Investment ,
Investors ,
National Security
CFIUS has offered a one-month comment period for proposed rulemaking to implement provisions of CFIUS legislation passed in August 2018.
More than a year ago, in August 2018, US President Donald Trump signed the Foreign...more
9/27/2019
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Export Controls ,
Federal Pilot Programs ,
FIRRMA ,
Foreign Investment ,
National Security ,
Real Estate Transactions ,
U.S. Treasury
What is CFIUS?
CFIUS stands for the Committee on Foreign Investment in the United States. It is a US federal, interagency group with authority to review certain foreign investments in US businesses to determine whether...more
New restrictions prohibit dealings between US persons and the Government of Venezuela.
On August 5, 2019, President Trump issued Executive Order (E.O.) 13884, entitled “Blocking the Property of the Government of...more
BIS designates Huawei Technologies Co., Ltd. and certain of its affiliates to the Entity List, restricting their ability to receive US products, software, and technology.
On May 16, 2019, the US Commerce Department’s...more
5/24/2019
/ Bureau of Industry and Security (BIS) ,
Cybersecurity ,
Economic Sanctions ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
General Licenses ,
Huawei ,
Telecommunications ,
U.S. Commerce Department
OFAC outlines baseline considerations for evaluating a risk-based sanctions compliance program.
On May 2, 2019, the US Treasury Department’s Office of Foreign Assets Control (OFAC) published A Framework for OFAC Compliance...more
5/9/2019
/ Audits ,
Black & Decker ,
Chief Compliance Officers ,
Compliance ,
Corporate Counsel ,
Corporate Management ,
Economic Sanctions ,
Enforcement Actions ,
Internal Controls ,
Office of Foreign Assets Control (OFAC) ,
Risk Assessment ,
Training
Trump Administration breaks with precedent to allow US plaintiffs to bring “trafficking” suits under Title III of the Helms-Burton Act.
Title III of the Helms-Burton Act (the Cuban Liberty and Democratic Solidarity...more
OFAC adds PdVSA to its sanctions list and simultaneously issues general licenses temporarily allowing certain transactions and activities involving PdVSA.
On January 28, the US Treasury Department’s Office of Foreign...more
OFAC added several parties to the SDN List and simultaneously issued a General License, authorizing certain wind-down activities until January 8, 2020.
Today, the Treasury Department’s Office of Foreign Assets Control...more
Withdrawal from the Iran nuclear agreement triggers full implementation of US sanctions, including threat of “secondary” sanctions on non-US persons dealing with Iran.
As reported in the Latham Client Alert dated May 10,...more
11/6/2018
/ Economic Sanctions ,
EU ,
Financial Institutions ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
General Licenses ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Secondary Sanctions ,
Trump Administration
Program requires parties to submit to CFIUS notice of certain foreign investments in US businesses involved in specified critical technologies at least 45 days prior to closing.
Key Points:
..The US Treasury Department...more
10/18/2018
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Export Controls ,
Federal Pilot Programs ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
National Security
New law expands CFIUS’ jurisdiction and brings important procedural changes to foreign direct investment review.
Key Points:
..The new legislation extends CFIUS’ jurisdiction to cover non-controlling investments in the...more
8/14/2018
/ CFIUS ,
China ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Emerging Technology Companies ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
National Security ,
NDAA ,
Trump Administration ,
U.S. Commerce Department
In light of the EU’s recent amendments to its long-standing blocking measure, EU operators will need to weigh the consequences of failing to comply with their contradicting obligations under US and EU law.
How has the EU...more
Withdrawal from the JCPOA will lead to re-imposition of several categories of US sanctions.
On May 8, 2018, President Trump announced that the United States will withdraw from the Joint Comprehensive Plan of Action...more
Recent legislation and official statements show increasing US government support for commercial spaceflight, including emerging industries.
Key Points:
..The House of Representatives passed the American Space Commerce...more
New Legislation to Reform the Committee on Foreign Investment in the United States Remains a Strong Possibility
Key Points:
..Reform legislation sponsors appear willing to address some concerns with the original...more
The new designations of Russian individuals and entities broadly expand the scope and impact of sanctions.
Background -
On April 6, 2018, the US Treasury Department’s Office of Foreign Assets Control (OFAC) added more...more
4/13/2018
/ Blocked Person ,
CAATSA ,
Economic Sanctions ,
Executive Orders ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Secondary Sanctions ,
Trump Administration ,
U.S. Treasury ,
Ukraine
The new designations of Russian individuals and entities broadly expand the scope and impact of sanctions.
Background -
On April 6, 2018, the US Treasury Department’s Office of Foreign Assets Control (OFAC) added more...more
4/10/2018
/ Blocked Person ,
CAATSA ,
Economic Sanctions ,
Executive Orders ,
Financial Institutions ,
General Licenses ,
Government Officials ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
State-Owned Enterprises ,
Trump Administration ,
U.S. Treasury
Treasury Department Report identifies 114 senior political figures and 96 oligarchs, and confirms that the Report is not a sanctions list -
On January 29, 2018, the Treasury Department submitted a report to the US Congress...more
Treasury Department Report identifies 114 senior political figures and 96 oligarchs, and confirms that the Report is not a sanctions list -
On January 29, 2018, the Treasury Department submitted a report to the US...more
The proposed Foreign Investment Risk Review Modernization Act would bring substantial changes to CFIUS review.
Key Points:
..FIRRMA could speed review of certain transactions.
..It would provide for increased...more
Venezuela’s initiative is unlikely to set the stage for a restructuring of international obligations in the face of US sanctions.
Key Points:
- US sanctions will prohibit US persons from engaging in a restructuring of...more