Tag Archives: FIRRMA

CFIUS Authority Expanded Via FIRRMA Implementing Regulations

UPDATE:  An annotated form of the full list of covered investment critical infrastructure and functions related to covered investment critical infrastructure as proposed by CFIUS that is referenced below is now available under the CFIUS Resources section of this blog. On September 17, 2019, the US Department of the Treasury issued proposed regulations to implement the … Continue Reading

CFIUS Pilot Program: New Mandatory Filings for Non-passive Foreign Investments

On October 10, 2018, the Committee on Foreign Investment in the United States (CFIUS) issued an interim rule, set to take effect on November 10, 2018, creating a “Pilot Program” that will require certain non-passive foreign investments to file an abbreviated “Declaration” filing with CFIUS. The rule is currently open for comments until November 10.… Continue Reading

CFIUS Reform: Understanding FIRRMA

On August 14, 2018, legislation reforming the Committee on Foreign Investment in the United States (CFIUS), the Foreign Investment Risk Review Modernization Act (FIRRMA), and dual-use export controls, the Export Controls Reform Act (ECRA), were signed into law as part of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (NDAA) (H.R. … Continue Reading

CFIUS Reform: House and Senate Committees Unanimously Clear Bills That Would Greatly Expand CFIUS Authority

On May 22, shortly before the US Memorial Day holiday weekend, the US House and Senate committees with jurisdictions over foreign investments in the US unanimously passed their respective legislations that would greatly expand the authority bestowed on the Committee on Foreign Investment in the United States (CFIUS). The bipartisan, bicameral effort introduced the Foreign … Continue Reading

Proposed CFIUS Law Will Impose New Export Controls on US Businesses

The Foreign Investment Risk Review Modernization Act of 2017 (S. 2098/H.R. 4311, FIRRMA for short) was introduced in Congress to reform the national security review of foreign acquisitions of US businesses by the Committee on Foreign Investment in the United States (CFIUS or the Committee). However, FIRRMA extends well beyond this purpose of reviewing acquisitions … Continue Reading

US House of Representatives Holds CFIUS Hearing

On Thursday, December 14, 2017, the House Financial Services Subcommittee on Monetary Policy and Trade held a hearing titled “Examining the Operations of the Committee on Foreign Investment in the United States (CFIUS).”  The hearing focused on CFIUS’s current effectiveness, the challenges it faces in the current economic environment, and potential improvements to increase its … Continue Reading

CFIUS Reform: Proposed Legislation to Expand National Security Reviews

The Foreign Investment Risk Review Modernization Act of 2017 (“S. 2098/H.R. 4311” or FIRRMA) was introduced in the US Congress on November 8, 2017 to institute “a modernization of the processes and authorities” of the Committee on Foreign Investment in the United States (CFIUS or the “Committee”).… Continue Reading
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