Podcast: CFIUS: Recent Regulatory Developments
On July 8, 2024, the United States Department of the Treasury’s Office of Investment Security issued a Notice of Proposed Rulemaking (“NPRM”) that proposed to expand the geographic reach in which the Committee on Foreign...more
The U.S. Department of the Treasury recently released its Committee on Foreign Investment in the United States (CFIUS) 2023 Annual Report to Congress....more
The Committee on Foreign Investment in the United States (CFIUS or the Committee) recently released the public version of its Annual Report to Congress for the calendar year 2023. The report shows an increasing emphasis on...more
On July 23, 2024, the Committee on Foreign Investment in the United States (CFIUS or the “Committee”) released its Annual Report to Congress covering calendar year 2023. In a year that featured lower deal volume, CFIUS...more
On June 24, 2024, the Commerce Department published a Final Determination under its Information and Communications Technology and Services (ICTS) authorities. The determination prohibits the Russian-controlled cybersecurity...more
On June 21, 2024, the Biden administration rolled out its outbound investment screening regulations. Last year, the Biden administration published an advanced notice of proposed rulemaking (ANPRM) that outlined the broad...more
Almost a year after President Biden signed an Executive Order to establish a U.S. outbound investment regime, the U.S. Department of the Treasury has published a Notice of Proposed Rulemaking (“NPRM”) on U.S. outbound...more
Almost six years after the enactment of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), the U.S. Department of the Treasury, as chair of the Committee on Foreign Investment in the United States (CFIUS),...more
Wilson Sonsini is pleased to present the National Security Regulations 2023 Year in Review, that we’ve dubbed as “Taylor’s Version.” We hope you enjoy the references to songs by American singersongwriter Taylor Swift that are...more
The Committee on Foreign Investment in the United States (CFIUS) is an interagency committee that reviews foreign investments in U.S. businesses and real estate assets. The primary purpose of a CFIUS review is to examine any...more
In a sweeping, coordinated effort across federal agencies, the US government has taken a giant leap forward to prevent access to data that could be exploited to the detriment of national security. On February 28, 2024,...more
Editor’s Note: The Committee on Foreign Investment in the United States (CFIUS) plays a pivotal role in regulating foreign investments in American companies, particularly those that could impact national security. This...more
Key Points - On August 9, 2023, President Biden issued a long-anticipated Executive Order on outbound investment aimed at addressing concerns related to China’s advancement in sensitive technologies critical for military,...more
Prohibitions targeted to prevent China’s exploitation of dual-use technology - On August 9, 2023, President Biden signed a historic Executive Order on Addressing United States Investments in Certain National Security...more
In brief. On August 9, 2023, President Biden signed a highly anticipated Executive Order (the “Outbound E.O.”) to establish a U.S. outbound investment regime. The U.S. Department of Treasury (“Treasury”) concurrently...more
The Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) recently released the unclassified version of its statutorily mandated annual report to Congress, covering calendar year 2022. Viewed in...more
Jurisdictional limits on the Committee on Foreign Investment in the United States (CFIUS) regarding the review of certain real estate transactions have led Congress to introduce proposals expanding its jurisdiction and...more
The recent developments signal a renewed vigor to protect US national security. This Client Alert highlights the following recent developments relating to national security investment reviews conducted by the Committee on...more
The U.S. Department of the Treasury (Treasury Department), which chairs the Committee on Foreign Investment in the United States (CFIUS), published a Proposed Rule on May 5, 2023, in the Federal Register. The Proposed Rule...more
Following a series of public reports, the United States appears close to announcing a new regulatory process to scrutinize US “outbound” investment to countries presenting national security challenges. ...more
EO 14083 clearly articulates national security risks that the Committee must consider when reviewing covered transactions. The five areas of focus are: supply chain resilience; impact on US technological leadership;...more
The Committee on Foreign Investment in the United States (CFIUS) evaluates the US national security impact of acquisitions of "control" by foreign persons of US businesses. ...more
Fufeng USA Inc. (Fufeng USA), a subsidiary of Chinese food manufacturer Fufeng Group Ltd. (Fufeng Group), announced on Dec. 13, 2022, that after an "extensive two-phase review," the Committee on Foreign Investment in the...more
Although announced two years earlier, Enforcement and Penalty Guidelines (the Guidelines) were finally released by the US Department of the Treasury (Treasury) as Chair of the Committee on Foreign Investment in the United...more
President Biden recently issued “formal Presidential direction” on the risks that the United States will consider when evaluating in-bound foreign investment....more