Guidance

This section includes some of the latest commentary and guidance provided by experts in foreign investment and national security. If you have resources that you’d like us to consider for inclusion, send us an email »

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Antitrust & Foreign Investment Legal Outlook 2023

According to the global law firm Linklaters, 2023 will be the year that global antitrust authorities implement and apply new tools designed to allow them to better support consumers. As a result, authorities are expected to find new ways to scrutinize M&A deals; the firm’s latest report provides details and helpful action items to consider.

CFIUS enforcement guidelines: Top 5 takeaways

Foreign Investment Watch covered the enforcement guidelines, but the law firm of Latham & Watkins does a nice job of outlining five key takeaways, including the fact that the Committee “is likely to take a more public and robust approach to enforcement,” particularly with respect to compliance with CFIUS mitigation agreements.

FDI Briefing for sovereign wealth funds

The International global law firm of Baker McKenzie partnered with the International Forum of Sovereign Wealth Funds to published this simple, easy-to-digest summary of key investment policy issues related to national security. The document included seven strategies for getting investments through the regulatory process.

FDI screening guide for 27 jurisdictions

The global professional services firm EY recently published an excellent foreign direct investment screening guide, which provides a snapshot of screening mechanisms from Australia and Cyprus to Switzerland and Vietnam. The guide covers sectors subject to FDI screening, requirements, timing, and more.

EC publishes list of screening mechanisms for Member States; contacts included

New European Commission rules that we wrote about last year require the EC to publish a list of all the Member States that have FDI screening mechanisms. The EC’s official list includes details by country, including relevant law, links, and contact information (when available).

Navigating the complicated universe of regulatory and other constraints related to national security

Excellent 20-page PDF from the law firm of Shearman & Sterling that looks at the complex matrix of regulations and organizations monitoring national security, from CFIUS and Team Telecom to export- and supply-chain controls at the Departments of Defense, State and Commerce.

Comparing FDI screening mechanisms in seven countries

Excellent table from Hogan Lovells that highlights differences in the foreign direct investment screening mechanisms in the U.S., UK, France, Spain, Germany, Italy and Australia. The document makes it easy to see at-a-glance how the countries handle filings, scope, timing, penalties, and more.

Foreign direct investment reviews 2019: A global perspective

Fantastic 48-page magazine from the law firm of White & Case that explains the rules for investing in countries that require approval. Includes country-by-country analysis of who files, scope, trends, and more.

Public Stakeholder Briefings with CFIUS Staff

Transcript of live briefing on the proposed regulations implementing FIRRMA, including some of the first public statements by new CFIUS “team leader,” Assistant Secretary for Investment Security Tom Feddo.

Multi-Jurisdiction Guide for Screening for Foreign Investments

Outstanding 148-page PDF from the law firm of DLA Piper that looks at countries with screening mechanisms for foreign direct investments. Dated August 2019.

CFIUS Flowchart

Lots of law firms have published flow charts, but Foreign Investment Watch editors liked the simplicity of approach taken by Pillsbury Winthrop in this two-page document.

Guide to Demystify the CFIUS Process

Excellent nine-page PDF from the law firm Baker Botts that aims to “demystify” the process. While focused primarily on China, the document includes nice plain-English descriptions of key elements, as well as helpful visual representations of timelines.