On July 23, 2024, the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) released its annual report to Congress for calendar year 2023 (the “Annual Report”). CFIUS is an interagency body chaired...more
Recent legislation, H.R. 815, the National Security Supplemental (“the Act”) – further explained by guidance issued by the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) on July 22, 2024 – has...more
7/25/2024
/ Cybersecurity ,
Economic Sanctions ,
Enforcement ,
EU ,
Export Controls ,
International Emergency Economic Powers Act (IEEPA) ,
Iran ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Statute of Limitations ,
Trading with the Enemy Act ,
U.S. Treasury ,
UK ,
US Department of State
On June 21, 2024, the Treasury Department released long-expected proposed regulations to curtail investments by U.S. persons (including investments by U.S. limited partners in non-U.S. pooled funds) and U.S.-controlled...more
6/24/2024
/ China ,
Corporate Counsel ,
Covered Entities ,
Covered Transactions ,
Foreign Investment ,
National Security ,
Proposed Rules ,
Reporting Requirements ,
Semiconductors ,
Technology Sector ,
U.S. Treasury
On July 26, 2023, the U.S. Departments of Justice, Treasury, and Commerce issued a joint compliance note (“JCN”) regarding voluntary self-disclosure (“VSD”) policies that apply to potential violations of U.S. sanctions...more
8/4/2023
/ Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
FinCEN ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
U.S. Commerce Department ,
U.S. Treasury ,
Whistleblowers
On September 15, 2022, President Biden issued an Executive Order regarding the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”)....more
9/22/2022
/ Biotechnology ,
CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Executive Orders ,
Filing Requirements ,
Foreign Investment ,
Joe Biden ,
National Security ,
Popular ,
Sensitive Personal Information ,
Supply Chain ,
U.S. Treasury
Efforts by a bipartisan group of U.S. lawmakers to establish a national security screening mechanism for investment in “countries of concern” (including the People’s Republic of China) were dealt a significant blow recently,...more