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Responding to CFIUS follow-up questions: A guide to building trust

Responding to CFIUS follow-up questions: A guide to building trust

This week, two CFIUS experts provide insights on responding to information requests from the Committee. Trust and transparency are crucial, they say. “Failure to establish trust may jeopardize successful reviews of even the most benign of transactions.” Details and tips inside.

Congressmen want U.S. Secretary of Agriculture on CFIUS (again)

Congressmen want U.S. Secretary of Agriculture on CFIUS (again)

For the second, no, third time, Congressional leaders have introduced legislation that would put the Secretary of Agriculture on CFIUS. Inside is an update on the legislation, the actual bill, the prior attempts, and insights on why it matters (or not).

Legislative roundup: New CFIUS bills on genetic data, higher ed.

Legislative roundup: New CFIUS bills on genetic data, higher ed.

A U.S. Senator has proposed mandatory CFIUS filings for any deal involving genetic data. Separately, a Senate committee has scuttled an effort to give CFIUS authority to review foreign donations to U.S. colleges and universities. Details, the bills, and more are inside.

Germany expands power to screen and review foreign investments

Germany expands power to screen and review foreign investments

Fresh on the heels of a similar Act in the UK, the German government has expanded its powers to review foreign acquisitions and investments in German companies. Similar to CFIUS, the new rule impacts transactions immediately. Details, the provisions, and more inside.

Company makes rare disclosure of draft National Security Agreement

Company makes rare disclosure of draft National Security Agreement

In a rare press release, a commercial satellite company has announced it received a draft National Security Agreement from CFIUS. Most NSAs aren’t disclosed via Business Wire, if at all; they’re typically buried in 10-Ks. Details, the backstory, the disclosure, and more are inside.

As anticipated, UK passes new national security screening regime

As anticipated, UK passes new national security screening regime

As we warned readers last year, the British government has finally enacted its new law that creates a mandatory filing regime for certain transactions, and strengthens the government’s ability to investigate and intervene in foreign investment. Details, the law, and more are inside.

Understanding the CFIUS “co-lead” role: A guide to the perplexed

Understanding the CFIUS “co-lead” role: A guide to the perplexed

Who is typically the CFIUS co-lead for AI or energy deals? How about biotech or cyber transactions? This week, we explore the CFIUS co-lead role, answering the what, when, who and why. “Understanding who the co-lead is and how to satisfy it can make or break a CFIUS case.”

CFIUS expert and FIW “top 10 advisor” joins Latham & Watkins

CFIUS expert and FIW “top 10 advisor” joins Latham & Watkins

One day she’s co-hosting the 8th annual ACI CFIUS conference representing Vinson & Elkins, and then, poof, she’s gone! Damara Chambers, a repeat nominee to our annual “Top 10 Advisors” list, has joined the Washington, D.C., office of Latham & Watkins. Details inside.

Compliance reminder: ICTS rule now in effect; first subpoenas sent

Compliance reminder: ICTS rule now in effect; first subpoenas sent

Last year, an interim rule was issued that enabled the Commerce Department to ban or restrict certain transactions that pose a risk to national security. That rule is now effective, and Commerce has issued its first subpoenas to review such transactions. Details are inside.

CFIUS myths debunked: “Wait and see” approaches, form types, more

CFIUS myths debunked: “Wait and see” approaches, form types, more

In a recent conversation with former DoD attorney advisor Chris Griner, we discussed four myths regarding CFIUS reviews. This week, the chair of Stroock’s National Security and CFIUS group spells it out for us. Among his tips: Don’t wait for CFIUS when it comes to mitigation.

Legislative roundup: Three bills related to CFIUS, FDI proposed

Legislative roundup: Three bills related to CFIUS, FDI proposed

Fresh on the heels of a bill that would boost CFIUS authority in higher education, three new pieces of legislation were floated that would impact the Commission and FDI matters. Details on the bills — focused on the U.S. supply chain, personal data, and more — are inside.

Treasury Sec. Yellen gets CFIUS mail from Congressional leaders

Treasury Sec. Yellen gets CFIUS mail from Congressional leaders

This week, Treasury Secretary Janet Yellen received two letters from Congressional leaders regarding CFIUS. One related to the Chinese “potentially taking action to evade CFIUS reviews”; the other requested the review of a deal approved by CFIUS in 2016. Details and letters inside.

Why academic institutions oppose CFIUS review of gifts, contracts

Why academic institutions oppose CFIUS review of gifts, contracts

The presidents of four major higher-education organizations have delivered a letter to the U.S. Senators who proposed having CFIUS review foreign gifts and contracts to colleges and universities. Details, their objections, the proposed legislation, and more are inside.

Predicted over/under date for new CFIUS head comes … and goes

Predicted over/under date for new CFIUS head comes … and goes

Back in February, we polled our readers — many of whom are experts on CFIUS, and have served in various roles in the Treasury Department — on their anticipated date for a new head of CFIUS. Their guess? April 15. Um, wrong! Inside we update readers on the process.

Discussing CFIUS’s pet peeves, expectations, trends and more

Discussing CFIUS’s pet peeves, expectations, trends and more

This week, we sit down with James Mendenhall, who served as the USTR representative on CFIUS. Jim discusses how CFIUS is grappling with “innovative corporate structures” like SPACs, and offers three lessons on transparency, clarity and doing your homework.

Ex-CFIUS official: Pitfalls to avoid when filing with the Committee

Ex-CFIUS official: Pitfalls to avoid when filing with the Committee

We sit down with Tyler McGaughey, who, until recently, managed the day-to-day operations of Treasury’s CFIUS team. Tyler highlights some common mistakes that trip up filers, such as submitting organizational charts that are “super complicated or confusing.” Details inside.

Canada issues new guidelines on national security reviews

Canada issues new guidelines on national security reviews

As anticipated, the Canadian government has issued new guidelines on the country’s national security review process. The new guidelines clarify the government can review foreign investments “regardless of the value of the investment.” Details, contacts, and more are inside.

Former CFIUS official discusses non-notified transactions, more

Former CFIUS official discusses non-notified transactions, more

This week we sit down with Aimen Mir, who served as Deputy Assistant Secretary for Investment Security at Treasury. According to Aimen, the strategy of trying to fly under-the-radar when dealing with CFIUS is going to be “increasingly risky” going forward. Details inside.