The US federal government is at risk of a shutdown unless Congress can enact appropriations to fund certain federal operations by December 20, 2024. In September 2023, the Department of Justice (DOJ) issued plans for how a...more
12/23/2024
/ Acquisitions ,
Antitrust Division ,
CFIUS ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Foreign Investment ,
Funding ,
Government Shutdown ,
Investment ,
Merger Controls ,
Mergers ,
U.S. Treasury
The U.S. Department of the Treasury ("Treasury") has engaged in a flurry of rulemaking over the last year, most recently issuing a final rule to sharpen and enhance the Committee on Foreign Investment in the United States...more
On October 28, 2024, the US Department of the Treasury issued a final rule (the “Rule”) to implement Executive Order 14105 (“EO”) establishing a new Outbound Investment Program ("OIP") to prohibit or require notification of...more
11/14/2024
/ Artificial Intelligence ,
China ,
Compliance ,
Foreign Investment ,
Hong Kong ,
Investment ,
Macau ,
Machine Learning ,
National Security ,
Outbound Transactions ,
Technology Sector ,
U.S. Treasury
The Committee on Foreign Investment in the United States (CFIUS or the Committee) has launched a new CFIUS Enforcement webpage, highlighting the Committee's heightened focus on "increasingly exercising its enforcement...more
The Committee on Foreign Investment in the United States (“CFIUS”) recently published its Annual Report to Congress covering calendar year 2023 (the “Report”). The Report indicates a number of notable trends—some new and...more
On June 21, 2024, the US Department of the Treasury issued a Notice of Proposed Rulemaking (“Proposed Rule”) to implement Executive Order 14105 (“EO”) establishing a new Outbound Investment Program ("OIP") to prohibit or...more
On April 11th, the US Department of the Treasury, as chair of the Committee on Foreign Investment in the United States (CFIUS), issued a Notice of Proposed Rulemaking (NPRM) to "enhance certain CFIUS procedures and sharpen...more
On February 28, 2024, President Biden signed Executive Order 14117 on "Preventing Access to Americans' Bulk Sensitive Data and United States Government-Related Data by Countries of Concern" (the EO).1 The EO calls for the...more
Foreign direct investment (FDI) regimes continue to grow in number and complexity around the world, and FDI has become a key global regulatory consideration that must be carefully understood, assessed and managed in...more
The past two years have witnessed significant geopolitical fracturing and macroeconomic difficulties that continue to hamper certain dealmaking. Several sectors have posted transactional lows throughout 2023, and persistent...more
12/11/2023
/ Acquisitions ,
CFIUS ,
China ,
Cross-Border Transactions ,
Debt Financing ,
EU ,
Foreign Direct Investment ,
Foreign Subsidies ,
Global Dealmaking ,
Hong Kong ,
International Trade ,
Mergers ,
Regulatory Agenda ,
Taiwan ,
Trade Secrets ,
United States
The US federal government is at risk of a partial shutdown unless Congress can enact appropriations to fund certain federal operations by September 30, 2023. Both the Department of Justice (DOJ) and Federal Trade Commission...more
On August 9, 2023, President Biden issued a long-awaited Executive Order ("the EO") establishing a new Outbound Investment Program ("OIP") to prohibit certain outbound US investments to China (including Hong Kong and Macau)...more
8/18/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Biden Administration ,
China ,
Executive Orders ,
Foreign Investment ,
National Security ,
Notice Requirements ,
Outbound Transactions ,
Popular ,
Prohibited Transactions ,
Semiconductors ,
Technology Sector ,
U.S. Treasury
The Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") recently released its Annual Report to Congress for calendar year 2022 (the "Report"). Overall, the Report underscores an increasingly...more
The Committee on Foreign Investment in the United States (CFIUS) recently issued a new Frequently Asked Question (FAQ) that updates CFIUS's interpretation of the "completion date" for a transaction, which represents a...more
The foreign ownership, control or influence ("FOCI") program administered by the Department of Defense's ("DoD") Defense Counterintelligence and Security Agency ("DCSA"), which is by far the largest US FOCI program, continues...more
Foreign direct investment (FDI) regimes continue to proliferate and mature globally. Given their increasing ubiquity and potential impact on deals, parties must prioritize FDI when considering cross-border M&A transactions....more
12/8/2022
/ CFIUS ,
EU ,
Foreign Corporations ,
Foreign Direct Investment ,
Foreign Investment ,
International Regulatory Standards ,
Investors ,
Mergers ,
Popular ,
Taiwan ,
United States
On October 20, 2022, the US Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), released the first-ever CFIUS Enforcement and Penalty Guidelines (Guidelines). The...more
On September 15, President Biden signed an Executive Order (the "EO") identifying national security risks that the Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") must consider when reviewing...more
9/20/2022
/ Biden Administration ,
CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Cybersecurity ,
Executive Orders ,
Foreign Investment ,
National Security ,
Supply Chain ,
Technology
This week the Committee on Foreign Investment in the United States (CFIUS) released its Annual Report to Congress for calendar year 2021 (the Report). The Report reflected a nearly 40% increase in overall CFIUS filings in...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
6/22/2022
/ Best Practices ,
CFIUS ,
Enforcement ,
EU ,
FIRRMA ,
Foreign Direct Investment ,
Foreign Governments ,
Foreign Investment ,
Investment Funds ,
Mitigation ,
National Security ,
United States
The signing of the Foreign Investment Risk Review Modernization Act (FIRRMA) into law in 2018 was the most significant update to CFIUS in more than a decade. For years leading up to the new legislation, there had been a...more
Two years ago, regulations implementing the Foreign Investment Risk Review Modernization Act (FIRRMA) went into effect, significantly expanding the jurisdiction of the Committee on Foreign Investment in the United States...more
Governments around the world are tightening their scrutiny of foreign direct investments -
Recent years have seen an upswing in foreign direct investment (FDI) reviews—a trend that has only accelerated sharply since the...more
2/9/2022
/ Acquisitions ,
CFIUS ,
Denmark ,
EU ,
FIRRMA ,
Foreign Investment ,
Investment ,
Investors ,
Mergers ,
Switzerland ,
UK
Expanded jurisdiction, mandatory filings and a substantially increased pursuit of non-notified transactions have changed the landscape -
The Committee on Foreign Investment in the United States (CFIUS), which is led by the...more
Foreign direct investment (FDI) reviews have become an increasingly critical issue in cross-border M&A transactions. Although many countries continue to encourage inbound investment, Taiwanese businesses and investors should...more
9/29/2021
/ Acquisitions ,
CFIUS ,
Cross-Border Transactions ,
EU ,
EU Screening Regulation ,
FIRRMA ,
Foreign Corporations ,
Foreign Direct Investment ,
Foreign Investment ,
International Regulatory Standards ,
Investors ,
Mergers ,
Taiwan