Last week, CFIUS head Paul Rosen said that the Committee has issued two civil monetary penalties in 2023, and has several more pending at various stages. He also implied that changes to FIRRMA were coming. “It’s time to refine some of those regulations.” Details, speeches and more inside.
In the latest edition of our short video series “Ten Minutes On,” we discuss FIRRMA’s fourth anniversary with David Plotinsky, who served as acting chief of the DoJ’s Foreign Investment Review Section. David explains what’s working, what isn’t, and what’s on the horizon.
Despite the unexpected downturn in the economy caused by the pandemic and a tightened regulatory framework, there are opportunities for both VCs and startups, provided they use proper structural and governance measures. Extensive details are inside.
For members’ convenience, we have pasted below the full text of the final rule, “Provisions Pertaining to Certain Investments in the United States by Foreign Persons,” published by the U.S. Department of Treasury on Jan. 13, 2020. Action Final rule; and interim rule...
For members’ convenience, we have pasted below the full text of the final rule, “Provisions Pertaining to Certain Transactions by Foreign Persons Involving Real Estate in the United States,” published by the U.S. Department of Treasury on Jan. 13, 2020. Action Final...
A nice workflow graphic from the law firm of Skadden Arps, which highlights CFIUS jurisdiction under the final FIRRMA rule.
Details on the new exemption, including a chart of CFIUS investigations by country.
Last year we put the over/under for the final CFIUS rules at Jan. 17. We should have taken the under…
An analysis of Securities and Exchange Commissions filings shows that companies are increasingly adding CFIUS and FIRRMA to their standard list of risks in MD&A and other communications.
Peter Thomas, a partner at Simpson Thacher & Bartlett, and three of his partners have gone through the comments on the proposed regulations to implement FIRRMA. Details inside…
The Treasury Department has proposed a rule that would “enhance certain CFIUS procedures” and sharpen its penalty and enforcement authorities. The proposed changes reflect the Committee’s evolution and increased focus on monitoring, compliance, and enforcement. Details are inside.
Congratulations to the experts who were selected as Foreign Investment Watch’s “Top Advisors 2024.” Out of hundreds of submissions, we selected 32 individuals based on myriad criteria, from experience and references to one-on-one interactions with Foreign Investment Watch.
As we covered back in June, Florida had enacted a law banning foreign nationals from China and other “countries of concern” from purchasing certain real estate holdings. An appeals court has now prohibited enforcement of that ban. Details, the case, a DoJ statement of interest, the impact, and more inside.
A U.S. Senator has introduced a bill that would force CFIUS to respond to inquiries from governors about transactions within state borders. The proposal runs counter to FIRRMA and current practice, and raises questions about the states’ role in national security, just as the states ramp up activity. Details inside.
CFIUS has been ramping up enforcement activity, but the Committee has not yet published details on penalties. So we asked an experienced third-party monitor and auditor to help us understand the issues that typically emerge as root causes for non-compliance, and increase the risk of enforcement.
Until just a few weeks ago, Brian Reissaus was Deputy Assistant Secretary for Investment Security Ops at Treasury, where he managed Treasury’s role as chair of CFIUS. We caught up with Reissaus during the holiday season, played some true-false, and had him look into his crystal ball for 2024.
As we’ve been covering extensively, numerous U.S. states (and even cities) have taken action to regulate foreign investment within their borders. Add Missouri to the list. Last week, Governor Mike Parson restricted the purchase of agricultural land near the state’s military facilities. Details inside.
Last week, Foreign Investment Watch spent some time with a senior CFIUS official, who provided updates on recent staffing changes, and insights into the Committee’s priorities for 2024. According to the official, the first tranche of proposed changes to FIRRMA may come as early as Q1. Details inside.
Based on recent hearings and industry meetings, the Select Committee has published a policy paper with a staggering 150 recommendations for countering China. The document outlines flaws in the CFIUS model, and suggests tactics to improve the approach to national security. Details, report inside.
Though rumored for over a month, we finally got confirmation that Deputy Assistant Secretary for Investment Security Operations Brian Reissaus has left the Treasury Department, as has Senior Advisor and former Deputy Director for Monitoring and Enforcement Jesse Sucher.