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Compliance reminder: Commerce finalizes and publishes ICTS rule

Compliance reminder: Commerce finalizes and publishes ICTS rule

The Commerce Department has published its final version of the “Securing the Information and Communications Technology Supply Chain” rule, which was proposed back in 2021. The final rule tweaks some definitions, and clarifies what transactions Commerce can evaluate. Details inside.

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.

CFIUS updates list of excepted foreign states; adds New Zealand

CFIUS updates list of excepted foreign states; adds New Zealand

As its first act in the new year, the Committee on Foreign Investment in the U.S. has updated its list of excepted foreign states, with a few minor tweaks and one addition. The move was considered underwhelming by some. Details, context, the rule, and fact sheet are inside.

Final rule modifies mandatory declarations, “substantial interest”

Final rule modifies mandatory declarations, “substantial interest”

As expected, the Treasury Department has issued its final rule that modifies the mandatory declaration provision of FIRRMA, and tweaks the definition of the term “substantial interest.” Details, summary, downloadable fact sheet, contacts, and the complete rule are available inside.

“Foundational technologies” at heart of Commerce Dept.  proposal

“Foundational technologies” at heart of Commerce Dept. proposal

The Bureau of Industry and Security has published a proposal on the definition of “foundational technology.” The definition will impact CFIUS, as these foundational items also qualify as “critical technologies” under FIRRMA. Details, full text, action items, and contacts are inside.

Senators want CFIUS to study pharma supply chain

Senators want CFIUS to study pharma supply chain

Two U.S. Senators have introduced legislation that would have CFIUS study “overreliance on foreign countries and the impact of foreign direct investment” on the U.S. pharmaceutical industry. The DNA analysis industry would also be reviewed. Details, the legislation, a related report, and contacts are inside.

Final rule modifies mandatory declarations, “substantial interest”

CFIUS proposes change to critical tech “mandatory declarations”

On Wednesday, the U.S. Treasury Department proposed to revise rules that require declarations for certain foreign-investment transactions regarding critical technologies. Details, the proposed regulation, contacts, and instructions for commenting on the proposal are inside.

Japan proposes new rules on foreign direct investment

Japan proposes new rules on foreign direct investment

As expected, Japan’s Ministry of Finance proposed new rules on foreign direct investment, citing a “global trend” and specifically mentioning the adoption of FIRRMA. Details, prior coverage, downloadable resources, and more are inside.