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CFIUS
Military sites added to the CFIUS jurisdiction list won’t be the last

Military sites added to the CFIUS jurisdiction list won’t be the last

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.

Activist group sues CFIUS over a failure to respond to FOIA request

Activist group sues CFIUS over a failure to respond to FOIA request

A conservative activist group known for filing Freedom of Information Act requests and lawsuits has filed a FOIA lawsuit against Treasury seeking communications between CFIUS and the Agriculture Department. Details, insights, a list of other FOIA requests sent to CFIUS, and the lawsuit are inside.

Firm wins $20M Treasury contract to build IT systems for outbound

Firm wins $20M Treasury contract to build IT systems for outbound

The government contracting unit of Accenture has been awarded a $20 million contract to work on the CFIUS case management system and other “international affairs projects,” including the outbound investment program. The contract comes right on the heels of another we recently tracked.

CFIUS to increase max penalties to $5M, expand its use of subpoenas

CFIUS to increase max penalties to $5M, expand its use of subpoenas

The Treasury Department has proposed a rule that would “enhance certain CFIUS procedures” and sharpen its penalty and enforcement authorities. The proposed changes reflect the Committee’s evolution and increased focus on monitoring, compliance, and enforcement. Details are inside.

Is CFIUS imposing NSAs without negotiating terms? Rumors abound.

Is CFIUS imposing NSAs without negotiating terms? Rumors abound.

According to some readers of Foreign Investment Watch, CFIUS has imposed National Security Agreements by order on a non-interim basis, and has done so without negotiating with the transactions parties. Experts say this would be an important development with far-reaching implications.

Exclusive: CFIUS official opines on ’24 priorities, staffing hires, more

Exclusive: CFIUS official opines on ’24 priorities, staffing hires, more

Last week, Foreign Investment Watch spent some time with a senior CFIUS official, who provided updates on recent staffing changes, and insights into the Committee’s priorities for 2024. According to the official, the first tranche of proposed changes to FIRRMA may come as early as Q1. Details inside.

Committee wants to give CFIUS additional authorities, new tools

Committee wants to give CFIUS additional authorities, new tools

Based on recent hearings and industry meetings, the Select Committee has published a policy paper with a staggering 150 recommendations for countering China. The document outlines flaws in the CFIUS model, and suggests tactics to improve the approach to national security. Details, report inside.

Is CFIUS reviewing cryptomining facilities owned by Chinese entities?

Is CFIUS reviewing cryptomining facilities owned by Chinese entities?

In case you missed it, the New York Times wrote an interesting piece on the national security implications of Chinese cryptomining facilities in the U.S., particularly near military facilities. This is not the first time the risk has been flagged, and it brings up interesting jurisdictional questions.

CFIUS to increase max penalties to $5M, expand its use of subpoenas

CFIUS head says more penalties are coming, as are changes to FIRRMA

Last week, CFIUS head Paul Rosen said that the Committee has issued two civil monetary penalties in 2023, and has several more pending at various stages. He also implied that changes to FIRRMA were coming. “It’s time to refine some of those regulations.” Details, speeches and more inside.

The key takeaways from last week’s  second annual CFIUS conference

The key takeaways from last week’s second annual CFIUS conference

After CFIUS’s first annual conference in 2022, we crowdsourced “key takeaways” from nearly a dozen attendees. This year, we turned to Sidley’s Grigore Alexandru, who previously served as Deputy Director at the DoD’s Office of Foreign Investment Review. His key takeaways are inside.

House Committee to host CFIUS hearing. Agriculture on the docket?

House Committee to host CFIUS hearing. Agriculture on the docket?

The House Financial Services Committee will host a hearing on CFIUS oversight this week. Part of the hearing will be classified, and it looks like several legislative proposals — including one that would put the Agriculture Secretary on CFIUS — may be on the agenda. Details, witnesses, more inside.

CFIUS reviewing fewer deals, taking longer, imposing more mitigation

CFIUS reviewing fewer deals, taking longer, imposing more mitigation

As we noted last week, the Committee published its latest report to Congress. In short: There are fewer transactions clearing in the declaration process, more notices proceeding to investigation, and more mitigation agreements. Details, report, and a downloadable spreadsheet of data inside.

Gallium and CFIUS: Key cases in wake of China’s new export controls

Gallium and CFIUS: Key cases in wake of China’s new export controls

China just announced export restrictions on critical metals used in the manufacturing of semiconductor chips, such as gallium and germanium. So we decided to look at actions CFIUS has taken on related transactions. Our findings? CFIUS has rarely signed off on deals that involve gallium.

CFIUS to increase max penalties to $5M, expand its use of subpoenas

Exclusive: We talk to CFIUS head Paul Rosen on his 1st anniversary

Hard to believe, but Paul Rosen just celebrated his one-year anniversary as head of CFIUS. We sat down with Rosen for an exclusive interview to discuss his first year on the job, and covered everything from penalties to guidance. According to Rosen, CFIUS is “always working to improve.”

Latest CFIUS reports from CRS may hint at future Congressional actions

Latest CFIUS reports from CRS may hint at future Congressional actions

The Congressional Research Service has published its latest briefings on CFIUS for elected officials. The two-page reports are generally uncontroversial summaries of recent developments, but they do include “considerations for Congress,” which may act as an early-warning system on future actions.

Eight military bases to be added to CFIUS list of covered installations

Eight military bases to be added to CFIUS list of covered installations

As most readers know, CFIUS has jurisdiction over certain real estate transactions near some specific military installations. But the list of locations, which was created by the DoD, did not include sites like Grand Forks Air Force Base. Well, it looks like that’s about to change. Details and proposal are inside.