The proposal signals a continued effort to expand CFIUS’s enforcement scope and update penalties.

On April 11, 2024, the US Department of the Treasury (Treasury) issued a Notice of Proposed Rulemaking (the Proposed Rule) to further strengthen the monitoring and enforcement capabilities of the Committee on Foreign Investment in the United States (CFIUS). The Proposed Rule follows other steps CFIUS has taken relating to enforcement, such as the issuance of the Enforcement and Penalty Guidelines in October 2022, and may result in expanded information requests, higher penalty limits, and greater compliance costs on transaction parties. Treasury is accepting written comments from the public until May 15, 2024.