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.
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.
This may be the first CFIUS matter we’ve seen that involves a trailer park. A Missouri Congressman is urging the Committee to review several China-linked shell companies that allegedly purchased a mobile-home community adjacent to Whiteman Air Force Base, home to the B-2 Stealth Bomber.
It’s been seven years since FIRRMA was signed, and a group of national security experts says there is now enough data on “friction points” to make some very specific recommendations for improving CFIUS processes, making it more effective and efficient. Details, recommendation, and related report inside.
Over the last week, we’ve been inundated with inquiries from readers about what it means for CFIUS operations, national security reviews, and ongoing filings. Two repeated questions we keep hearing: What happens to new submissions, and how likely are approvals during the shutdown?
A bipartisan pair of Senators has floated a proposal that would direct the U.S. Trade Representative to prioritize North American alignment on foreign investment screening. The proposal would impact the upcoming joint review of the U.S.-Mexico-Canada Agreement. Details, proposed solution inside.
Last week, the Senate Banking Committee held a confirmation hearing for Chris Pilkerton, who has been nominated to serve as the next Assistant Secretary of Investment Security at Treasury. Our readers predicted that Pilkerton would be confirmed by Dec. 5, so we may be ahead of schedule.
Two U.S. representatives proposed a bipartisan bill that would set a 100% tariff on strategic items from China, including critical minerals and dual-use goods. The bill would also require CFIUS to approve all foreign investments involving land or factory creation from adversarial nations. Details inside.
The latest CFIUS Report to Congress was just published, and the document raises more questions than it answers. Here’s one: If France has less than one-fifth the FDI inflows of the U.S., why did the French review more foreign investment transactions than CFIUS? Details, report and insights are inside.
Senator Elizabeth Warren (D-Massachusetts) has asked the General Accountability Office to conduct a “comprehensive review” of critical U.S. foreign investment regimes, including CFIUS and FOCI. Of particular interest to the Senator: Third-party monitors. Details and the actual letter are inside.
Last week, the House Appropriations Committee released the Fiscal Year 2026 bill for the Financial Services and General Government Subcommittee. The total discretionary allocation was $23 billion, down 7.9% from the FY25 enacted discretionary appropriation. CFIIUS details and impact are inside.
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.
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.
Last week, President Trump issued a sweeping national security memorandum that appears to transform CFIUS into a regime-specific entity. It also would “cease the use of overly bureaucratic, complex, and open-ended mitigation agreements.” Details and the memorandum are inside.
Well that didn’t take long. As many readers have already heard, former Assistant Secretary of the Treasury for Investment Security Paul Rosen has decamped for Latham & Watkins, where he’ll focus on CFIUS matters, outbound reviews and more. Stay tuned for an exclusive interview with Rosen.
As most Foreign Investment Watch readers know by now, President Biden has blocked Japanese steelmaker Nippon from acquiring U.S. Steel. Inside, we discuss with experts the impact of the decision for foreign investment reviews, including the implications for excepted foreign states.
Right on the heels of a report that detailed threats to the nation’s ports, Congressional leaders have sent a letter to Treasury Secretary Janet Yellen urging her to put U.S. Coast Guard facilities and other sensitive sites under CFIUS jurisdiction, and to allow for retroactive land purchase reviews. Details inside.
CFIUS head Paul Rosen disclosed over a year ago that penalties had been issued under the new enforcement guidelines, but the Committee has been relatively silent on details. Until now. Last week, CFIUS provided extensive details on penalties, and unveiled how “DONT” letters are being used.
The Corporate Transparency Act, which requires certain companies to disclose beneficial ownership information, became effective back in January. Experts now say the Act could theoretically help CFIUS in its ongoing search for non-notified transactions. Details, context and insights are inside.
As we mentioned in last week’s edition, the Treasury Department has proposed a new rule that would expand the number of military installations over which CFIUS has jurisdiction. This is the second expansion of the real estate provisions of FIRRMA in the last year, and it won’t be the last. Details inside.