The House Select Committee has been busy. Last week alone, they held a “field hearing” in New York; disclosed an investigation into Wall Street firms; issued a subpoena regarding an unlicensed California lab; and penned a letter to Treasury Secretary Yellen regarding Gotion. Details inside.
In case you missed it, the House Financial Services Committee recently held a five-hour hearing (yes, you read that right) on the economic threat from China. The hearing explored a wide array of issues, including outbound investment. Details, summary, testimony, and additional resources are inside.
National security experts debated an outbound foreign investment regime at a recent Senate Banking Committee hearing. According to one expert, whatever the U.S. adopts, “we should be prepared for other countries to develop similar authorities.” Summary, details and testimony inside.
On Thursday, the Senate Banking Committee will host a hearing on outbound investment screening; we warned readers that the Senate was likely to revisit this topic after the August recess. Among the speakers: Sarah Bauerle Danzman, who briefed our readers on outbound screening back in April.
A group of U.S. Senators has sent a letter to U.S. Treasury Secretary Janet Yellen, urging her to have CFIUS conduct a review of a particular transaction. This isn’t the first time this has happened. Details, precedent, the letter, and insights on how it will be received by Sec. Yellen are inside.
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.