On April 15, 2024, the secretary of the Department of the Treasury, as chair of the Committee on Foreign Investment in the United States (CFIUS or Committee), published a notice of proposed rulemaking (Proposed Rule) to...more
In this month’s Privacy & Cybersecurity Update, we examine Iowa’s new data privacy law (the sixth state to enact a privacy law), the Biden administration’s new national cybersecurity strategy, the U.K. government’s revised...more
4/4/2023
/ Amended Regulation ,
Biden Administration ,
Consumer Privacy Rights ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Data Protection ,
National Security ,
Popular ,
Privacy Laws ,
State Privacy Laws ,
UK
On September 15, 2022, President Joe Biden issued an executive order (EO) “on ensuring robust consideration of evolving national security risks” by the Committee on Foreign Investment in the United States (CFIUS or the...more
Takeaways -
Since 2018, the U.S. and several other countries have revised or installed national security-related screening of foreign direct investments.
Many jurisdictions now require filings for investments in the...more
In this month’s Privacy & Cybersecurity Update, we review the TSA’s new cybersecurity requirements for critical U.S. infrastructure, the White House OMB’s new guidance on cyber incident reporting procedures and the U.S.-U.K....more
The UK government’s long-awaited National Security and Investment Bill (the Bill), which paves the way to significant changes in the UK’s regime for screening foreign investment, was laid before Parliament on 11 November...more
On September 15, 2020, the Treasury Department issued final regulations that define when it is mandatory to file with the Committee on Foreign Investment in the United States (CFIUS). This final rule builds on regulations...more
9/23/2020
/ CFIUS ,
Critical Infrastructure Sectors ,
Export Administration Regulations (EAR) ,
Export Controls ,
Filing Requirements ,
Final Rules ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
NAICS ,
Technology Sector ,
U.S. Treasury
In recent months, European states have raced to implement protections against opportunistic acquisitions of key local businesses by foreign buyers amid the economic disruption caused by the spread of COVID-19. ...more
Since the beginning of 2020, the U.S. Department of the Treasury (Treasury) has issued numerous regulations to implement fully the Foreign Risk Review Modernization Act of 2018 (FIRRMA) on behalf of the Committee on Foreign...more
5/27/2020
/ Amended Rules ,
Annual Reports ,
Bulk Electric System ,
CFIUS ,
China ,
Critical Infrastructure Sectors ,
Department of Energy (DOE) ,
Export Administration Regulations (EAR) ,
Export Controls ,
FCC ,
Filing Fees ,
FIRRMA ,
Foreign Investment ,
Huawei ,
Imports ,
Investment Funds ,
ITAR ,
Mandatory Declarations ,
NAICS ,
National Security ,
Nuclear Regulatory Commission ,
Proposed Rules ,
Section 232 ,
Technology Sector ,
Telecommunications ,
Trump Administration
On Friday, May 1, 2020, the Trump administration issued an executive order prohibiting the acquisition and installation of “bulk-power system electric equipment” (such as generators, circuit breakers, metering equipment,...more
On March 28, 2020, the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) issued updated guidance for identifying the “Essential Critical Infrastructure Workforce,” which state and...more
The achievement of legislative consensus in 2018 around a preferred approach to safeguarding U.S. technology and information from national security threats via foreign investment resulted in passage of the Foreign Investment...more
1/22/2020
/ CFIUS ,
China ,
Covered Real Estate Transactions ,
Critical Infrastructure Sectors ,
Excepted Investors ,
Export Controls ,
Federal Pilot Programs ,
Final Rules ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
National Security ,
Technology Sector ,
Technology Transfer Agreements ,
Trump Administration
On January 13, 2020, the U.S. Department of the Treasury (Treasury), on behalf of the Committee on Foreign Investment in the United States (CFIUS or the Committee), issued two sets of final regulations implementing the...more
1/17/2020
/ CFIUS ,
Critical Infrastructure Sectors ,
Data Management ,
Declaration ,
Filing Requirements ,
Final Rules ,
FIRRMA ,
FOCI ,
Foreign Governments ,
Foreign Investment ,
Investors ,
National Security ,
Personal Data ,
Private Equity ,
Real Estate Transactions ,
Regulatory Oversight ,
Regulatory Requirements ,
REIT ,
U.S. Treasury ,
Venture Capital
On September 17, 2019, the Department of the Treasury, on behalf of the Committee on Foreign Investment in the United States (CFIUS or Committee), issued two sets of proposed regulations seeking to further implement the...more
9/24/2019
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Data Management ,
Export Control Reform Act (ECRA) ,
Federal Pilot Programs ,
Financial Markets ,
FIRRMA ,
Foreign Investment ,
Investment ,
Limited Partnerships ,
National Security ,
Oil & Gas ,
Pipelines ,
Railways ,
Real Estate Transactions ,
Regulatory Reform ,
Satellites ,
Technology Sector ,
Telecommunications
On March 19, 2019, the European Union adopted a regulation for the screening of foreign direct investments into the EU (the Regulation). The Regulation sets forth national security factors that EU member states (Member...more
7/1/2019
/ CFIUS ,
Critical Infrastructure Sectors ,
EU ,
European Commission ,
Foreign Direct Investment ,
Member State ,
National Security ,
New Regulations ,
Screening Procedures ,
Sensitive Business Information ,
Transitional Arrangements ,
UK Brexit
Tariffs targeting Chinese imports into the United States garnered headlines throughout 2018. However, during the latter part of the year, the U.S. government more quietly initiated efforts that in 2019 and beyond could be...more
1/21/2019
/ Bureau of Industry and Security (BIS) ,
CFIUS ,
China ,
Critical Infrastructure Sectors ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Control Reform Act (ECRA) ,
Export Controls ,
Exports ,
FIRRMA ,
Foreign Corrupt Practices Act (FCPA) ,
National Security ,
NDAA ,
Notice of Proposed Rulemaking (NOPR) ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Burden ,
Tariffs ,
Technology Sector ,
Trade Policy ,
Trade Relations ,
Trump Administration ,
U.S. Commerce Department
On October 10, 2018, the Department of the Treasury, as the chair of the Committee on Foreign Investment in the United States (CFIUS), issued two sets of interim regulations implementing certain provisions of the Foreign...more
10/11/2018
/ CFIUS ,
Critical Infrastructure Sectors ,
Declaration ,
Federal Pilot Programs ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Governments ,
Foreign Investment ,
Jurisdiction ,
Mandatory Requirements ,
National Security ,
Non-Controlling Interests ,
Passive Investments ,
Technology Sector ,
Voting Securities
In this month's edition of our Privacy & Cybersecurity Update, we examine Brazil's new data protection regulation, the French data protection authority's warning to two companies of potential GDPR violations and the U.S....more
9/7/2018
/ Appeals ,
Brazil ,
Breach Notification Rule ,
CNIL ,
Computer Fraud Insurance ,
Consent ,
Critical Infrastructure Sectors ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Collection ,
Data Protection Acts ,
Data Protection Authority ,
Data Protection Officers (DPOs) ,
Data Retention ,
Denial of Insurance Coverage ,
Department of Homeland Security (DHS) ,
Email ,
Enforcement Actions ,
EU ,
European Commission ,
European Economic Area (EEA) ,
Extraterritoriality Rules ,
France ,
Fraudulent Transfers ,
General Data Protection Regulation (GDPR) ,
Geological Data ,
International Data Transfers ,
Japan ,
Japan-EU Economic Partnership Agreement (EPA) ,
NCCIC ,
Personal Data ,
Policy Terms ,
Popular ,
Public Private Partnerships (P3s) ,
Reciprocity Rules ,
Reversal ,
Scams ,
Social Engineering ,
Spoofing ,
Standard Contractual Clauses ,
Warning Letters ,
Wire Fraud
In large part as a response to China’s national industrial goals and subsequent Chinese acquisitions of U.S. and European companies that are technology leaders in key industries, the U.S. government and a number of European...more
In large part as a response to China’s national industrial goals and subsequent Chinese acquisitions of U.S. and European companies that are technology leaders in key industries, the U.S. government and a number of European...more
Over the past year, a bipartisan group of legislators in Congress has been drafting and soliciting support for a new statute that, if passed, would dramatically reform national security reviews performed by the Committee on...more
1/24/2018
/ CFIUS ,
Critical Infrastructure Sectors ,
Export Controls ,
Filing Fees ,
FIRRMA ,
Foreign Acquisitions ,
Joint Venture ,
Jurisdiction ,
License Agreements ,
National Security ,
National Security Review Proceedings ,
Notice Requirements ,
Partnerships ,
Proposed Legislation ,
Risk Mitigation ,
Technology Sector ,
Trump Administration
On November 8, 2017, a bipartisan group of legislators led by U.S. Sen. John Cornyn, R-Texas, and U.S. Rep. Robert Pittenger, R-N.C., alongside co-sponsors including U.S. Sen. Dianne Feinstein, D-Calif., introduced parallel...more