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U.S.-EU to share best practices on investment screening cooperation
The U.S.-EU Trade and Technology Council has announced that it intends to establish “unprecedented” cooperation on export controls, and create “practical exercises” to share best practices on investment screening cooperation. Details, context, and the joint statement are inside.
Survey: Most U.S. voters support some foreign investment screening
A new survey from a global consulting firm has found that U.S. voters “broadly support export controls and investment screening” for critical technologies on national security grounds. However, voters seem to have little appetite for total bans. Details, data and the complete survey are inside.
Proposed bill would set DHS point person on CFIUS, Team Telecom
A bill proposed to strengthen U.S. supply chains and domestic production capacity would formally have the Assistant Secretary for Trade and Economic Security at the Department of Homeland Security serve as the “point person” on CFIUS and Team Telecom. Details inside.
New: Access a list of U.S. cos. that have received foreign investment
At the request of our readers, Foreign Investment Watch has begun tracking U.S. companies receiving capital from foreign investors. This week, we unveil the new investment tracker, which is in “beta” mode. The data are available in spreadsheet form, and will be updated regularly.
FDI expert: CFIUS, Team Telecom may get more assertive over time
This week, we sit down with John Beahn, who recently joined the law firm of Milbank as its first full-time CFIUS partner. According to Beahn, CFIUS and Team Telecom “only have begun to scratch the surface of the authorities provided to them” by FIRRMA. Details and insights inside.
Upcoming CFIUS events: We track the latest webcasts, sessions, more
If you missed ACI, there are still numerous CFIUS-related conferences and webcasts you might want to consider attending. Giovanna Cinelli (pictured) at Morgan Lewis is hosting one, and the Treasury Department is running its own CFIUS conference for the first time. Details are inside.
USTR publishes global IP report; will begin review of tariffs on China
It was a busy week for the Office of the United States Trade Representative. The Office published its annual review of the state of IP protection and enforcement, and said it would start its process to reassess existing tariffs on certain Chinese goods. Details, highlights, and more are inside.
The DoD has its own non-notified team prowling for transactions
We asked Tyler McGaughey, who was previously responsible for managing the day-to-day operations of Treasury’s CFIUS team, to give us his “top ten takeaways” from the latest ACI CFIUS conference. Among his insights: The DoD is actively searching for non‑notified transactions.
Have inquiries from Congressmen on CFIUS gotten more demanding?
U.S. Treasury Secretary Janet Yellen has received another CFIUS-related inquiry from a U.S. Congressman. But the latest letter seems a little more demanding than usual, asking whether a declaration was filed regarding a specific transaction, and seeking related information. Details inside.
FCC to fine U.S. telecom firm for exceeding foreign ownership limits
The Federal Communications Commission has accused a U.S. wireless carrier of “repeatedly” transferring control of its FCC licenses to foreign individuals. The firm’s parent company in London will be fined $600,639. Details, the case, and what this may signal about Team Telecom are inside.
U.S. Senators send another CFIUS letter to Treasury Secretary Yellen
A group of U.S. Senators has sent a letter to U.S. Treasury Secretary Janet Yellen, urging her to have CFIUS conduct a review of a particular transaction. This isn’t the first time this has happened. Details, precedent, the letter, and insights on how it will be received by Sec. Yellen are inside.
Congressional leaders ask Pres. Biden to push UK on Chinese deal
Congressional leaders want the UK government to prevent the sale of a British semiconductor facility to a Chinese-controlled company. In a letter to Pres. Biden, the group urges action, threatening to revoke the UK’s “excepted foreign state” status with CFIUS. Details and letter inside.
Ten Minutes On: The likelihood of a new outbound screening regime
In the latest edition of our short video series “Ten Minutes On,” we discuss the potential for an outbound investment screening regime with expert and professor Sarah Bauerle Danzman. According to Danzman, the latest proposed regime would be “quite onerous.” All the details inside.
Foreign ownership of U.S. forest, crop land up 54% over last decade
According to a new report from the U.S. Department of Agriculture, foreign individuals and entities now own nearly 3 percent of all privately held U.S. agricultural land. That number is up significantly over the last decade. Details, implications, contacts, and the relevance to CFIUS are inside.
Canadian group wants amicus for nat. security reviews; CFIUS next?
A Canadian think tank has released a research paper calling for greater transparency in the Canadian foreign investment regime, and allowing for a national security “amicus” to test the government’s evidence. Details, the report, and the potential for a U.S. national security amicus are inside.
Commerce Dept. seeks input on supply chain resiliency, security
As we reported last year, the U.S.-EU Trade and Technology Council is working to coordinate approaches to global trade matters, including investment screening. The Bureau of Industry and Security is now seeking input to inform that work. Details, context, contacts, and action items are inside.
Treasury Dept. decides to launch its own symposium on CFIUS
Last week, the Treasury Department announced it will host its inaugural CFIUS conference, to take place mid-June. The goal of the event: provide insights on CFIUS authorities, processes, and more. Details, registration, and our unsolicited editorial input on the proposed agenda is inside.
Ten Minutes On: A short video on CFIUS’s approval of the Icon deal
In our latest episode of “Ten Minutes On,” we chat with James Mendenhall about the high-profile CFIUS approval for an investment in Icon Aircraft by a Chinese investment company. Jim, whose firm represented Icon, discusses the fascinating backstory, and provides lessons from the case.
London & Dublin-based expert on UK’s new national security regime
This week we sit down with Nicole Kar, Global Practice Head of the Antitrust & Foreign Investment Group at Linklaters. According to Nicole, FIRRMA is a bit like Arnold Schwarzenegger, and the UK’s NSIA is more like Hugh Grant. Her explanation, insights, and tips are inside.
We take you inside the nomination hearing for next head of CFIUS
The Senate Banking Committee has held its hearing to consider the nomination of Paul Rosen as Assistant Secretary of Investment Security at the Treasury Dept. Details, insights, photos and questions from committee members like Sen. Catherine Cortez Masto are inside.