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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.
This week, two CFIUS experts provide insights on responding to information requests from the Committee. Trust and transparency are crucial, they say. “Failure to establish trust may jeopardize successful reviews of even the most benign of transactions.” Details and tips inside.
For the second, no, third time, Congressional leaders have introduced legislation that would put the Secretary of Agriculture on CFIUS. Inside is an update on the legislation, the actual bill, the prior attempts, and insights on why it matters (or not).
A U.S. Senator has proposed mandatory CFIUS filings for any deal involving genetic data. Separately, a Senate committee has scuttled an effort to give CFIUS authority to review foreign donations to U.S. colleges and universities. Details, the bills, and more are inside.
Fresh on the heels of a similar Act in the UK, the German government has expanded its powers to review foreign acquisitions and investments in German companies. Similar to CFIUS, the new rule impacts transactions immediately. Details, the provisions, and more inside.
In a rare press release, a commercial satellite company has announced it received a draft National Security Agreement from CFIUS. Most NSAs aren’t disclosed via Business Wire, if at all; they’re typically buried in 10-Ks. Details, the backstory, the disclosure, and more are inside.
As we warned readers last year, the British government has finally enacted its new law that creates a mandatory filing regime for certain transactions, and strengthens the government’s ability to investigate and intervene in foreign investment. Details, the law, and more are inside.
Who is typically the CFIUS co-lead for AI or energy deals? How about biotech or cyber transactions? This week, we explore the CFIUS co-lead role, answering the what, when, who and why. “Understanding who the co-lead is and how to satisfy it can make or break a CFIUS case.”
One day she’s co-hosting the 8th annual ACI CFIUS conference representing Vinson & Elkins, and then, poof, she’s gone! Damara Chambers, a repeat nominee to our annual “Top 10 Advisors” list, has joined the Washington, D.C., office of Latham & Watkins. Details inside.
Last year, an interim rule was issued that enabled the Commerce Department to ban or restrict certain transactions that pose a risk to national security. That rule is now effective, and Commerce has issued its first subpoenas to review such transactions. Details are inside.
In a recent conversation with former DoD attorney advisor Chris Griner, we discussed four myths regarding CFIUS reviews. This week, the chair of Stroock’s National Security and CFIUS group spells it out for us. Among his tips: Don’t wait for CFIUS when it comes to mitigation.
An association of venture capital firms has published a “model term sheet” that includes sample language addressing foreign investment. The document includes sample CFIUS conditions of closing, and more. Details and the document are inside.
Fresh on the heels of a bill that would boost CFIUS authority in higher education, three new pieces of legislation were floated that would impact the Commission and FDI matters. Details on the bills — focused on the U.S. supply chain, personal data, and more — are inside.
This week, Treasury Secretary Janet Yellen received two letters from Congressional leaders regarding CFIUS. One related to the Chinese “potentially taking action to evade CFIUS reviews”; the other requested the review of a deal approved by CFIUS in 2016. Details and letters inside.
The presidents of four major higher-education organizations have delivered a letter to the U.S. Senators who proposed having CFIUS review foreign gifts and contracts to colleges and universities. Details, their objections, the proposed legislation, and more are inside.
Back in February, we polled our readers — many of whom are experts on CFIUS, and have served in various roles in the Treasury Department — on their anticipated date for a new head of CFIUS. Their guess? April 15. Um, wrong! Inside we update readers on the process.