Are You a Foreign Agent? [More with McGlinchey, Ep. 21
For the first time in nearly 30 years, the U.S. Department of Justice (DOJ) proposes to materially revise the Foreign Agents Registration Act (FARA). On December 19, 2024, DOJ issued a Notice of Proposed Rulemaking (NPRM)...more
The Department of Commerce’s Bureau of Industry and Security (BIS) recently issued an interim final rule implementing licensing requirements for these emerging technology products for export to all foreign countries. See the...more
The Canadian government recently issued two policy statements (IDM Statements) affirming that it will enhance its scrutiny under the Investment Canada Act (ICA) of foreign investments in the Canadian Interactive Digital Media...more
In Short - The Situation: From July 1, 2023, foreign investors in Australia will be subject to new registration requirements under Australia's foreign investment regime....more
Last week, Minnesota Governor Tim Walz signed the Democracy for the People Act (DPA), a sweeping new law that substantially changes the state’s campaign finance and voting rules. The DPA establishes a new automatic voter...more
CFIUS has the authority to review any transaction that could result in foreign control of a US business, certain non-controlling investments and certain real estate transactions. This includes mergers, acquisitions, and joint...more
Key Takeaways- While foreign investors are typically taxed on gain from the sale of U.S. real property interests (which include interests in most equity REITs), they are generally exempt from tax on gain from the sale of...more
The California legislature is currently in recess and is scheduled to reconvene on January 4. However, some bills have already been introduced, including AB 83 (Lee & Kalra), which would enact the "Get Foreign Money Out of...more
The Canadian government announced a new policy on October 28, 2022 (the Policy) under the Investment Canada Act (ICA) governing investments by state-owned enterprises (SOEs) in Canada’s critical minerals sector....more
The event featured speakers from across the US Government who provided insights on CFIUS authorities, priorities, processes and recommended best practices. US Government officials also emphasized the United States’ commitment...more
Amid a rise in U.S. Department of Justice (DOJ) enforcement of the Foreign Agents Registration Act (FARA)—including an increase in criminal cases and staff dedicated to FARA investigations—last month the FARA Unit released...more
On August 14, 2020, the Department of Justice (DOJ) issued its first Foreign Corrupt Practices Act (FCPA) Opinion Procedure Release in six years. In the opinion, DOJ advised that it would not bring an enforcement action...more
On 5 June 2020, the Treasurer of Australia announced reforms to Australia's foreign investment framework. The key focus of the reforms is national security risks to deal with the current environment, including rapid...more
The Situation: The U.S. Department of the Treasury ("Treasury Department") released final regulations implementing the Foreign Investment Risk Review Modernization Act of 2018 ("FIRRMA"), which, among other things, effectuate...more
The Department of Treasury has released the final regulations implementing the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”), which contain significant changes to the process by which the Committee on...more
On January 13, 2020, the U.S. Department of Treasury issued final regulations (the "Final Rules") that implement most of the Foreign Investment Risk Review Modernization Act of 2018 ("FIRRMA"). While the Final Rules provide...more
Nearly a year and a half after the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) was enacted, authorizing the most substantial overhaul of the Committee on Foreign Investment in the United States (CFIUS)...more
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
The U.S. Treasury Department recently signaled that it is close to finalizing new regulations that will apply to investments by non-U.S. investors in U.S. companies, assets, and real estate subject to review under the...more
By now, you have skimmed through the proposed FIRRMA regulations issued on September 17 2019, and you have very likely read a dozen summaries of those regulations (with titles like “New Proposed CFIUS Regulations Published”...more
CFIUS Past, Present, and Future: A 2018 CFIUS Carol - The year 2018 was a turning point in the history of the Committee on Foreign Investment in the United States (CFIUS). CFIUS’s change in direction in 2017 suggested that a...more
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
The Trump Administration’s tariff wars may cause American companies to move operations offshore, with joint ventures in China one likely option. A joint venture with a Chinese partner can enable a company to respond nimbly...more