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What to expect when you’re expecting (to hear from CFIUS)
This week, Richard Matheny — who has been involved in some of the most recent and high-profile CFIUS cases, including StayNTouch and PatientsLikeMe — takes us step-by-step through the CFIUS process, from the Committee’s first inbound email to the initial phone call and beyond.
Headless CFIUS: We calculate the over/under on Feddo’s successor
As we reported a few weeks ago, Thomas Feddo is no longer the head of CFIUS. So when will we have a new leader? With the majority of key roles at Treasury still vacant, we reached out to nearly 50 experts for their predictions. The over/under on a date is inside.
Former DoD FOCI action officer on CFIUS risks, opportunities in 2021
This week, we sit down (virtually) with a former Foreign Ownership, Control or Influence Action Officer in the DoD’s Defense Counterintelligence and Security Agency. Inside are pitfalls to avoid when filing with CFIUS, and tips for filers. “Wishful thinking is not a strategy,” she says.
Experts: CFIUS may be reviewing deals that are nearly ten years old
Three experts on national security and foreign investment say that they’ve seen CFIUS inquires “about transactions that had closed maybe four or more years ago,” and have heard of others that closed nearly a decade ago. Details, summaries, contacts, presentation, and video are inside.
State’s foreign control study yields questions on CFIUS, food supply
A state rep. in America’s heartland has proposed a bill that would study foreign ownership of agricultural land. Citing shortcomings of federal regulations, the resolution raises interesting jurisdictional questions for CFIUS. Details, the bill, context, expert insights, contacts, and more are inside.
Lessons as Chinese firm looks to divest CFIUS-approved acquisition
Chinese ecommerce giant Alibaba plans to sell off a U.S.-based biometric security firm that it acquired with the blessing of CFIUS in 2016. Experts say the move may be a harbinger of things to come. Details, insights, and related documents are inside.
Q&A with former Treasury Deputy Secretary, Ambassador to Germany
This week, we sit down (virtually) with former Deputy Secretary of the U.S. Treasury and U.S. Ambassador to Germany Robert Kimmitt, who takes us inside the National Security Council, and explains why it’s important to Janet Yellen, CFIUS, and (ultimately) you.
To accelerate national security clearance of deal, founder resigns
The CEO of a commercial space company has resigned in an effort to “expedite the resolution of U.S. government national security and foreign ownership concerns” surrounding the company. Backstory, transaction details, expert insights, and more are inside.
Warning: Case shows how scope of CFIUS reviews can expand widely
Last week, Foreign Investment Watch came across an interesting case. A joint voluntary notice filed with CFIUS, which was related to a particular acquisition, seems to have triggered a review that was unrelated to the deal. Details, the filing, and expert insights are inside.
Commerce Department can now conduct CFIUS-like reviews
Effective immediately, a new rule enables the Commerce Department to conduct reviews of transactions between foreign adversaries and U.S. companies that involve “information and communications technology or services.” Details, downloads, contacts, and more are inside.
CFIUS promised enforcement guidance last year. So, where is it?
The now-former head of CFIUS Thomas Feddo (see related resignation article, below) promised enforcement guidelines to help companies understand how CFIUS would use its powers. Six months later, Feddo is gone, and no guidance has been issued. Details are inside.
Experts decipher the impact of Thomas Feddo’s exit from CFIUS
As we reported in a special edition last week, Thomas Feddo, who oversaw CFIUS as Assistant Secretary for Investment Security, has left the Treasury Department. Details, insights from experts, and new contact information for CFIUS interim leadership are inside.
Here’s a first: French authorities block acquisition by U.S. company
For the first time, French authorities have blocked the acquisition of a technology company by a U.S. corporation, citing “national strategic interests” and protection of the French defense industry. Details, the case, contacts, the lessons, and more are inside.
Texas Rep. challenges CFIUS ruling on China-owned wind farm
Congressman Tony Gonzales (R-Texas) has publicly challenged a decision by CFIUS to approve the sale of a wind farm to a company with ties to the Chinese Communist Party. Details, the letter, our related coverage, and contacts are inside.
New DoD marketplace matches critical tech with vetted investors
The U.S. Department of Defense has launched a Trusted Capital Digital Marketplace, which will connect “trusted sources of funding” with providers of emerging technologies required for national security. Details, contacts, the actual marketplace, and more are inside.
Webcast to cover CFIUS, export controls and Biden administration
Vinson & Eklins partner Damara Chambers, who made our “Top Advisors 2020” list, will cohost an upcoming Webcast on recent trade and investment developments. The session will also cover what to expect in the Biden administration. Details and registration information are inside.
CFIUS expert: Cos. should consider FDI issues “very early” in process
This week, we sit down (virtually, of course) with Laura Fraedrich, who has deep expertise in FDI requirements. According to Laura, parties should remember that CFIUS might have jurisdiction “even when it does not seem that there are foreign parties involved.” Details are inside.
NYSE delists three Chinese companies, and Trump bans eight
In case you missed it, last week saw a flurry of activity as the New York Stock Exchange proceeded with a plan to delist three Chinese companies, and President Trump issued an Executive Order to ban transactions with eight Chinese apps. Details, the orders, and more are inside.
FCC seeks input on standardized set of national security questions
The FCC is seeking comments on a set of questions for applications that will get foreign-ownership reviews by Team Telecom. Details on the “standardized national security and law enforcement questions,” the public notice, instructions, contacts, and more are inside.
Congressional Research Service publishes overview on FDI issues
A Congressional research agency has published an overview of key issues related to foreign investment and national security. The report provides a “plain English” summary of key positions and upcoming decisions for members of Congress. Details and the report are inside.