Wiley's 10 Key Trade Developments: Outbound Investments and CFIUS Review
The Treasury Department is entering 2026 with a more assertive and coordinated posture on both inbound and outbound capital. The administration’s first presidential divestment order of the year, the push to strengthen...more
On December 23, 2025, the US Department of the Treasury (Treasury) released additional guidance in the form of seven additional frequently asked questions (FAQs), clarifying certain aspects of the Outbound Investment Security...more
The Fiscal Year 2026 National Defense Authorization Act, signed into law on December 18, 2025, includes the Comprehensive Outbound Investment National Security Act of 2025 (COINS Act), which establishes a statutory framework...more
The U.S Department of the Treasury implemented the Final Rules governing outbound investment (the “Rule”) on January 2, 2025. As part of the National Defense Authorization Act of 2026, Congress enacted the Comprehensive...more
On December 18, 2025, President Donald Trump signed the National Defense Authorization Act for Fiscal Year 2026 (the “NDAA”). The NDAA includes the Comprehensive Outbound Investment National Security Act of 2025 (“COINS”),...more
On December 18, 2025, President Trump signed into law the Comprehensive Outbound Investment National Security (COINS) Act of 2025, which will eventually modify the scope of the U.S. Department of the Treasury’s existing...more
U.S. businesses involved in the U.S. defense industrial base have been historically protected from Foreign Direct Investment (FDI) by the Committee on Foreign Investment in the United States (CFIUS). ...more
On December 18, 2025, President Trump signed into law the Fiscal Year 2026 National Defense Authorization Act (NDAA), which includes the Comprehensive Outbound Investment National Security Act of 2025 (COINS Act). The COINS...more
On Thursday, December 18, the President signed the National Defense Authorization Act (NDAA) for Fiscal Year 2026. The NDAA contains several new national security regulatory controls, including a new Title LXXXV entitled the...more
The COINS Act codifies the Outbound Program, with an expansion in scope. Further regulatory changes can be expected in implementing regulations, and the COINS Act creates a process for receiving feedback from Treasury about...more
In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest...more
Navigating the Committee on Foreign Investment in the United States has long been a key consideration for inbound investors to the U.S. But at the start of 2025, a new regulatory framework was introduced to limit certain...more
In just under two weeks, the House of Representatives introduced, modified and passed the One Big, Beautiful Bill of 2025 (the “House Tax Bill”). This Memorandum addresses a new proposed tax on certain persons sending money...more
Even though the Trump administration is reviewing the outbound foreign investment review regime, enforcement has begun. We’ve now heard multiple reports that the Treasury Department is reaching out to U.S. venture capital and...more
The secondaries market continues to mature and evolve, offering limited partners (“LPs”) an essential tool for portfolio rebalancing, liquidity management and strategic realignment. However, the introduction of the U.S....more
Despite uncertainty amid talks of reforming the Outbound Investment Security Program (OISP), the US Department of the Treasury is already actively pursuing enforcement actions against transaction parties that may have...more
Potential policy changes could offer opportunities for CFIUS filers in low-risk transactions while introducing added challenges for transaction parties linked to sensitive countries....more
The U.S. outbound investment security program, or Outbound Investment Rules, went into effect on Jan. 2, 2025, and financial institutions have had a few months to adjust to the new regulations....more
On February 21, 2025, President Donald Trump issued the America First Investment Policy memorandum (Investment Policy Memo), outlining the US policy on investment security and directing substantial changes with regard to both...more
On October 28, 2024, the U.S. Department of Treasury (Treasury Department) published a final rule (Final Rule) setting forth the regulations implementing Executive Order 14150 of August 9, 2023 (Outbound Investment Order),...more
On February 21, 2025, President Trump issued the America First Investment Policy Memorandum, which emphasizes the U.S. commitment to a strong, open investment environment while reshaping the U.S. government’s policy towards...more
On February 21, 2025, President Trump issued his America First Investment Policy (the “Policy”) that has the potential to drastically alter cross border investments, particularly those involving the United States and the...more
On January 2, 2025, the U.S. Department of the Treasury’s Final Rule on outbound investment screening became effective. The Final Rule implements Executive Order 14105 issued by former President Biden on August 9, 2023, and...more
The U.S. Department of the Treasury's Final Rule on outbound investment screening went into effect on Jan. 2, 2025. The Final Rule establishes a much-awaited outbound investment screening regime, implementing Executive Order...more
Global M&A in 2024 faced geopolitical issues, elevated interest rates, and inflationary pressures, with expanding antitrust, foreign investment, national security, and export regimes adding complexity. But inflation receded...more