UPDATE: On April 29, 2020, the US Department of the Treasury (the Treasury) issued an interim rule, effective May 1, 2020, concerning applicable filing fees for formal notice filings with the Committee on Foreign Investment in the United States (CFIUS or Committee), essentially implementing the proposed rule issued on March 9, 2020.… Continue Reading
In a rapidly changing business environment, the trade compliance practitioner’s expertise will be needed to safely navigate mergers, acquisitions and different types of partnerships with foreign entities.… Continue Reading
On January 6, 2020, the US Department of Commerce, Bureau of Industry and Security (BIS) published an interim final rule amending the Export Administration Regulations (EAR) to make software specially designed to automate the analysis of geospatial imagery subject to the EAR and to impose a requirement of a license for the export and reexport of such software. The … Continue Reading
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
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
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
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
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
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
