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The arms race for CFIUS experts continues. Last week, a partner in Wiley Rein’s CFIUS group joined the national security practice at Vinson & Elkins, which had recently lost Damara Chambers to Latham & Watkins. Details, and more recent changes inside.
This week, we discuss “carve outs” with Jonathan Gafni, who previously served in the Office of the Director of National Intelligence. According to Gafni, problems with carve outs can arise when parties want to “have their cake and eat it too.” Details, examples, and tips are inside.
A Republican Congressman from Wisconsin is preparing legislation that would create a new disclosure requirement for companies that are subsidized by foreign governments. The bill would impact those entities when pursuing large mergers. Details inside.
The UK’s Competition and Markets Authority, which has national-security review powers similar to CFIUS, is looking into the acquisition of UK defense company Ultra Electronics by a U.S.-owned company. Details, filing documents, contacts, and more are inside.
Two U.S. Senators have sent a letter to Treasury Secretary Janet Yellen, renewing a request to have CFIUS review the transactions of Brazilian meatpacking conglomerate JBS. Details, prior attempts, context, and the actual letter are inside.
As we’ve reported extensively, CFIUS is increasingly utilizing mitigation agreements to resolve national security risks. This week, two experts provide recommendations that organizations should consider as they work through the mitigation agreement process.
According to a new survey conducted by Foreign Investment Watch, both corporate executives and outside counsel feel more knowledgeable about CFIUS, and feel better prepared to comply with filing obligations or inquiries from the Committee. Details and data inside.
The 2020 CFIUS annual report to Congress was finally published last week, and some of the numbers are surprising. For the first time in several years, China was not the top foreign acquirer of U.S. critical technology. Details, insights, and the full report are inside.
Buried on page 20 of a new report from the Defense Critical Supply Chain Task Force was a fairly provocative recommendation: Companies should be forced to disclose foreign capital they receive from adversarial nations. Details, the full report, and more are inside.
The Foreign Affairs Committee of the UK’s House of Commons has published a 38-page report that recommends expanding the scope of the new National Security and Investment Act. Details, contacts, insights, the report, and more are inside.
Pres. Biden has nominated an Under Secretary for Industry and Security, a position that serves as principal advisor to the Secretary of Commerce on the export of sensitive technologies. Key positions within the Treasury department remain vacant. Details and contacts inside.
A Congressman from Texas is urging Treasury Secretary Janet Yellen and Energy Secretary Jennifer Granholm (pictured) to have CFIUS review the sale of a U.S. refinery to a foreign company. But there are issues. Details, the letter, and some humorous expert insights are inside.
Last week, a Foreign Investment Watch reader submitted a question regarding a Chinese acquisition and GSA contracts. If you submit an answer, we’ll reprint it in next week’s edition. The question, contact information, and additional details inside.
As most Foreign Investment Watch readers know, the Treasury Department has built a new team whose sole mission is to find transactions that were not filed with CFIUS. This week, a former Treasury official explains their process, and provides tips for those in their crosshairs.
An interesting disclosure trend is emerging in SEC filings: Companies are announcing their intention not to file with CFIUS. “It’s like preemptive disclosure of a non-notified transaction,” says one expert. Details, examples, insights and more are inside.
Experts on CFIUS, OFAC and FinCEN continue to move from one practice to another, as law firms stock up on practitioners who can help companies navigate increasingly complex global security regimes. The latest move is inside, as are other recent “migrations.”
Seems like this week is “Foreign Investment Watch: Law Firm Edition.” In addition to the updates above, a global law firm just announced a new National Security, Sanctions, and Export Controls practice to help companies navigate national security matters. Details inside.
Last week, Pres. Biden released several statements and Executive Orders covering foreign investment in the U.S., the protection of sensitive data from foreign adversaries, U.S. private investment in China, and more. Details, source documents, expert insights, and more are inside.
Back in February, Pres. Biden issued an Executive Order that mandated a 100-day review of vulnerabilities in the U.S. supply chain. That report is now completed and was published last week. Details, downloads, and information on a new supply-chain task force are inside.
In a nice break from the typical legalese found in SEC filings, a semiconductor company has provided a simple plain-English Q&A to describe the regulatory implications of its acquisition by a Chinese private-equity firm. Details, the Q&A, contacts, and more are inside.