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Arizona bill would ban foreign adversary use of drones, sensors
Arizona is the latest state to advance legislation that would restrict foreign adversaries from buying property. The state had already passed a similar law in 2025, but the new bill closes loopholes and adds restrictions around installation or use of drones, antennas, sensors, and more. Detail, bill inside.
Partial shutdown has CFIUS tolling transactions; are you impacted yet?
According to experts, CFIUS is now tolling transactions, and readers have told us that the partial government shutdown is impacting reviews. A few companies have even publicly disclosed that their transactions have been impacted. Details are inside, as is a quick survey gauging impact.
Lawmakers want management consulting, biotech in outbound
As we reported at the end of last year, new outbound investment restrictions have officially been enshrined in the 2026 National Defense Authorization Act. Now a group of Congressional leaders is urging Treasury Secretary Scott Bessent to consider additional steps. Details inside.
Is the “Known Investor Program” a waste of time? Feedback, input
During the last two months, Foreign Investment Watch has been reaching out to investment firms, law firms, and others who are intimately familiar with the Known Investor Program. So far, the feedback has not been great. Initial insights and additional input are being sought inside.
The hidden deal risk: Reputational exposure across jurisdictions
A decade ago, FDI filing analysis was relatively straightforward. But Mubadala SVP Grigore Alexandru says that’s no longer the case. For sophisticated global investors, he says, reputational risk has become a core underwriting variable, directly affecting deal velocity, valuations, more.
Will Treasury streamline foreign investment review process?
New CFIUS head Chris Pilkerton recently testified at a House Committee hearing that he’d be seeking feedback on the “Known Investor Program.” True to his word, that RFI is now out. But it actually seeks much broader input on streamlining the entire foreign investment review process. Details inside.
Secretive council would get more muscle under proposed legislation
Two years ago, we reported that the Federal Acquisition Security Council — which protects the federal supply chain from software sourced in adversarial nations — was warning companies their products could be removed from government systems. A new bill would give FASC more power.
Senators want Secretary of Defense to probe SpaceX for China link
Over the years, we’ve cataloged dozens of letters written by Congressional leaders to the Treasury Secretary, urging him or her to conduct CFIUS reviews on myriad matters. But it’s rare we see letters that bypass CFIUS and go right to the Secretary of War. Rare, but not unprecedented.
Agriculture Department unveils new portal for foreign transactions
The USDA finally unveiled its long-promised online foreign-ownership reporting portal. The tool is supposed to be used by foreign entities to report investments and ownership of U.S. agricultural land, and insiders say it should “increase compliance” and assist with enforcement. Details, portal inside.
Two new FCC orders on foreign ownership and adversary control
Fresh on heels of a first-ever enforcement action we covered last month, the Federal Communications Commission has unveiled two new orders, one that codifies its foreign ownership review process, and another that addresses transparency related to emerging threats from foreign adversaries.
Now accepting nominations for our annual list of “Top Advisors 2026”
It’s that time of year again! We’re now taking nominations for our 2026 “Top Advisors” list, which features experts who provide advice and counsel regarding national-security reviews of foreign investments in the U.S. and abroad. Nominations are due by Feb. 27, 2026. Get ’em in now, folks!
New head of CFIUS endures political theater at first hearing
Well that wasn’t really fair. His first week on the job, new head of CFIUS Chris Pilkerton endured a hearing on Committee operations that got mired down in politics and transaction-specific questions that both predated his tenure and were subject to confidentiality. Details, pictures, testimony inside.
FCC issues enforcement action for violation of mitigation agreement
The Federal Communications Commission is now a national security enforcer. In what it called a “landmark” move, the FCC has targeted a company that violated the national security provisions of a mitigation agreement. Experts have called the move a “first of its kind.” Details, consent decree inside.
Dutch and Chinese governments continue spat over Nexperia
Last year, the Dutch ostensibly seized control of chipmaker Nexperia, citing “serious governance shortcomings” and risks to economic and national security. While productive conversations between the two nations led to suspension of the order, the dispute is by no means over. Details inside.
Oklahoma ban on China-owned farmland exempts Smithfield
The state of Oklahoma has implemented a ban on land ownership by adversarial nations, including China. However, the legislation includes a carve-out for Smithfield Foods, an entity with Chinese ownership and extensive farmland in Oklahoma. Details and the provisions are inside.
Congressional leaders want national security review of iRobot deal
Back in 2022, Amazon and iRobot agreed to a merger that attracted antitrust scrutiny. The deal was scuttled in 2024, leading to a bankruptcy filing by iRobot. Now a robotics company tied to the Chinese government is looking to acquire the company, and Congressional leaders aren’t happy.
TikTok sale ok’d; push for details challenges CFIUS confidentiality?
According to reports, a deal has been reached to sell TikTok’s U.S. entity to a consortium that includes Oracle. But details have not been made available, and a think tank is pushing for full details — a move experts say could impact the confidentiality provisions under which CFIUS operates.
Agriculture Department proposes to update its foreign reporting regs
Right before the new year, the U.S. Department of Agriculture proposed changes to its foreign ownership reporting rules. The advanced notice of proposed rulemaking would impact AFIDA, which has been criticized as being outdated and incomplete. Details and the proposal are inside.
Report shows extent of Energy Dept. collaboration with China
A new 120-page report has identified thousands of Department of Energy-funded research papers that were conducted in partnership with entities tied to China’s defense research and industrial base. The report blames “decades-long failures” to implement security and other measures. Details, report inside.
Bill would push Mexico and Canada to strengthen, align FDI regimes
Congressional leaders last week proposed legislation that would strengthen and better coordinate investment screening requirements across North America. The goal: Prevent China from using Mexico and Canada as “backdoors” to move goods into the U.S. Details and the legislation are inside.