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CFIUS Filing Decision Flowchart
Foreign investment Watch created a simple CFIUS online workflow tool, which should help companies think through key decisions when considering filing with CFIUS. Meant for informational purposes only, the tool does not constitute guidance or legal advice.
Law firm launches online “foreign investment review evaluation” tool
This week, Baker McKenzie posted a free online tool cleverly called FIRE, which stands for Foreign Investment Review Evaluation. The tool includes details on more than 25 countries, and is reminiscent of other online products we’ve covered over the least year. Details and access to all the tools and apps we’ve found are inside.
UK unveils its new screening regime for foreign investment
This week, the UK unveiled its anticipated bill that would impose mandatory filing and pre-approval requirements for certain deals involving strategic sectors. Details, fact sheets, a process flow chart, the actual bill, and relevant contacts are all inside.
FCC approves iHeartMedia request to take more foreign investment
A decision to allow iHeartMedia to take on additional foreign investors shows that Team Telecom is welcoming foreign participation in the nation’s communications system. Caroline Brown of Crowell & Moring says companies with similar pending transactions might want to review the LOA. Download the decision inside.
Former director of the DoD CFIUS program decodes TikTok situation
This week, Paul Halpern, who spent 20 years participating in the Department of Defense’s national security reviews of foreign acquisitions under CFIUS, provides insights and lessons from the TikTok situation. On the table: ownership definitions, politics, and “access and control.”
Former CFIUS official jumps from Jones Day to Dorsey & Whitney
Following the hires of high-profile CFIUS experts at Skadden, Kirkland & Ellis, and other firms, Dorsey & Whitney has hired a former Deputy Director in the Treasury office responsible for CFIUS. Details, other recent hires, and contact information are inside.
The biggest mistake you can make before filing with CFIUS is…
This week, we sit down (virtually, of course) with Anne Salladin, previously an advisor to CFIUS, to discuss ways companies can assess CFIUS implications up front when putting together deals. Details, common lessons, and the “biggest mistake” when dealing with CFIUS are inside.
Three steps to prepare for CFIUS switch to export control standard
This week, two partners at a global advisory firm provide three steps that companies should take to prepare for increased CFIUS scrutiny on export control compliance. Hot tip: The worst time to learn of an export compliance failure is during a CFIUS review.
Compliance reminder: New CFIUS and EU rules are now in effect
Just a friendly reminder that the new CFIUS critical technology mandatory filing requirement took effect last week, as did EU’s new screening mechanism for foreign direct investments. Key details are inside, as are complete frameworks, fact sheets, FAQs, and more.
Bill would enable UK to unwind deals over national security
According to reports, a new plan being written in London would give the British government the power to unravel foreign investments in UK companies if national security is at risk. Details, related coverage, the draft of the proposal, and more are inside.
Commerce Dept. implements controls on emerging technologies
As anticipated, the Bureau of Industry and Security at Commerce issued its final rule regarding multilateral controls on emerging technologies. The U.S. and other nations had agreed to implement these controls last year. Details, the final rule, contacts and more are inside.
Head of CFIUS provides intel on non-notified transactions, more
During an Oct. 2 online forum, the head of CFIUS provided a series of updates and insights on topics ranging from treatment of joint ventures to upcoming enforcement guidelines. Details, excerpts, key quotes, contacts, and the full video are inside.
FCC streamlines its process for reviewing foreign ownership
This week, the Federal Communications Commission adopted new rules that should improve the transparency and timeliness of foreign ownership reviews. Details on the new “Team Telecom” review process, and how it relates to CFIUS, are inside.
Insights on when to consider CFIUS mitigation requirements
As we covered back in July, the number of mitigation agreements monitored by the DoJ has nearly doubled. So this week, we turned to Keith Ausbrook, an expert on monitoring and compliance, to outline practical steps that may be helpful when mitigation is required.
Latest CFIUS updates, reports on TikTok, Riot and other companies
We’ve been wary of covering the TikTok noise, because, well, who isn’t covering it? But this week we provide a quick update on some of the more high-profile CFIUS proceedings, including an expanded investigation of two other gaming companies connected to China’s Tencent.
National security expert on global trends, CFIUS scrutiny, more
This week, we sit down (virtually, of course) with Farhad Jalinous, Partner and Chair of the Foreign Direct Investment Reviews and US National Security/CFIUS Practice at White & Case to discuss the impact of the election, COVID, global trends, and more.
Final rule modifies mandatory declarations, “substantial interest”
As expected, the Treasury Department has issued its final rule that modifies the mandatory declaration provision of FIRRMA, and tweaks the definition of the term “substantial interest.” Details, summary, downloadable fact sheet, contacts, and the complete rule are available inside.
Sen. Rubio asks CFIUS to review another acquisition
Senator Marco Rubio (R-FL) has asked CFIUS to look into the Chinese acquisition of health and nutrition retailer GNC. This is not the first time Sen. Rubio has sent such a request. Details, context, and the actual letter are inside.
Budget provides insights on CFIUS plans, strategy, staffing and more
The House Financial Services and General Government Appropriations Bill for 2021 provides some interesting insights on the government’s intentions to strengthen CFIUS. Details, the budget numbers, and the complete bill are available for download inside.
UK’s authority publishes guidance on foreign direct investments
As anticipated, the UK Competition and Markets Authority has published guidance on their “powers and procedures.” Insights on their intended practices, including details on information-gathering and penalties, are inside.