At a House Financial Services Committee hearing on outbound, experts stated that Biden’s E.O. would create a “cumbersome and unnecessary bureaucratic process,” and that outbound investment authorities “should not be located within CFIUS.” Details, insights, and copies of the testimony are inside.
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.
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.
Last week, the U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing on “Countering China,” which featured testimony from CFIUS head Paul Rosen and others. Inside is a summary of relevant testimony, key insights, question-and-answer highlights, and more.
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.