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Treasury confirms that a CFIUS “fast track” pilot is coming shortly
Last month, Treasury Deputy Secretary Michael Faulkender hinted at potential changes to some of CFIUS’s processes, including a fast-track system that might collect information from foreign investors “earlier in the process.” The Treasury Department has now confirmed that a program is coming.
Hacker at CFIUS apparently gained access to “small fraction” of files
The Treasury Department recently disclosed that last year’s cybersecurity incident, which was reported here and in other media outlets, resulted in the intruder gaining access to “only a small fraction of files stored locally on some unclassified laptops and desktops.” Details, recap of the hack are inside.
EU endorses new screening rules for certain foreign investments
Last week, the European Parliament updated rules that will make certain foreign investments subject to mandatory screening by member states. The rules, which include screening for greenfield investments, are intended to prevent foreign investment-related security or public order risks. Details inside.
For second time, DOJ declines to prosecute due to self-disclosure
Last week, the National Security Division of the Department of Justice announced it would decline prosecution of a company whose employee violated export control rules. The reason: The company’s voluntary self-disclosure and “exceptional and proactive cooperation.” Details, lessons inside.
CFIUS “fast track” and guidance coming? Streamlined mitigation
At a recent industry event, Treasury Deputy Secretary Michael Faulkender hinted at potential upcoming changes to the Committee’s processes, from a fast-track system that might collect information from foreign investors “earlier in the process,” to a streamlined approach to mitigation.
Survey says: Next CFIUS head will be confirmed faster than Rosen
When will CFIUS have its next Assistant Secretary for Investment Security? According to a survey of Foreign Investment Watch readers, the next head of CFIUS will be confirmed faster than the 488 days it took to confirm Paul Rosen. In fact, the over/under has now moved to December 5. Details inside.
ODNI publishes its annual threat assessment; it’s all about China
The Office of the Director of National Intelligence just unveiled its Annual Threat Assessment of the U.S. Intelligence Community, and — no surprise — China plays an outsized role in the report. But the document is vastly different from the ODNI’s 2024 report issued under President Biden. Vastly…
National security investigations underway for supply chain, imports
The Bureau of Industry and Security has begun investigating the national security implications of certain imports, including semiconductors, pharmaceuticals, and “processed critical minerals and their derivative products.” The latest investigations aren’t the only ones ongoing.
Is Trump’s order to review U.S. Steel transaction precedent-setting?
Last week, President Trump ordered a review of the Nippon-U.S. Steel transaction, which Pres. Biden had prohibited at the end of his term. Experts say the “de novo” review (which means the Biden decision will have no bearing on the outcome) may be a first, with long-term implications for transaction parties.
Bill to give CFIUS jurisdiction over greenfield, brownfield investments
Last week, three U.S. Senators proposed legislation that would give CFIUS “full authority” to review both greenfield and brownfield investments from China and other countries of concern. The bill follows the release of a Presidential memorandum that called for CFIUS to be granted similar powers.
FCC to modernize rules addressing “complex” foreign ownership
The Federal Communications Commission is considering modernization of its foreign ownership rules, which regulate investment in broadcast, wireless, and other telecom and radio licenses. The rules will update and codify how the FCC addresses “increasingly complex foreign ownership structures.”
When will we have a next head of CFIUS? Predicting the over/under
After President Biden’s inauguration, it took a staggering 16 months (488 days, to be precise) for the U.S. Senate to confirm Paul Rosen as Assistant Secretary for Investment Security. So when will we have a new head of CFIUS? Are we in for another long wait? Our latest under/over poll is inside.
Who do the GenAI models predict will serve as next head of CFIUS?
Since we haven’t been able to find any hard data on potential nominees for the next Assistant Secretary for Investment Security, we did the next best thing: We asked GenAI. The results were surprising, with a host of interesting candidates based on criteria the models say the President Trump would himself use.
Court forces company to execute CFIUS NSA; may affect M&A deals
A merger in the 3D printing industry has created an interesting CFIUS dynamic: The Delaware Chancery Court has ordered the foreign acquirer to accept the terms of a CFIUS national security agreement and close the deal immediately. Experts say the decision could impact future transactions and M&A docs.
Transparency rule now to focus only on foreign entities; CFIUS impact?
As expected, the Financial Crimes Enforcement Network issued its interim final rule on beneficial ownership information, massively narrowing the scope to exempt U.S. companies and individuals. The move is a significant change from the proposed rule, and could impact CFIUS’s search for non-notifieds.
BIS at Commerce expected to ramp up enforcement of export controls
At a conference held by the Bureau of Industry and Security, Commerce Secretary Howard Lutnick and BIS officials warned that enforcement of export controls was ramping up, and that a “dramatic increase” in activity and fines was coming. Key takeaways on “Red Flag Letters” and more inside.
Texas proposes a “local CFIUS” to review transactions; first of many?
A bill has been proposed in the State of Texas that would create a Texas Committee on Foreign Investment, which would be responsible for reviewing certain foreign transactions. Experts say this is one of the first “local CFIUS” committees proposed, but it probably won’t be the last.
Senators float bill to strengthen outbound foreign investment rule
As expected, a group of Senators has proposed legislation that would limit U.S. investments in certain technologies in China, including AI, advanced semiconductors, quantum systems, and hypersonics. The bill is one of several recent moves aimed at strengthening the outbound program.
Two more bills addressing Chinese purchases of farmland introduced
Two legislative proposals have been introduced in the House and Senate that would impact foreign purchases of agricultural land in the U.S. The bills, which get added to a group of more than a dozen related proposals, take slightly different approaches to regulating foreign acquisition of farmland.
Canada adds “economic security” criteria to national security reviews
Fresh on the heels of U.S. tariffs, the Canadian government has announced changes to its national security review regime to include “the potential of the investment to undermine Canada’s economic security.” Experts say the move is aimed specifically at U.S. investors targeting Canadian companies.