Client Alert: Major CFIUS Changes Now Set for February 13, 2020
On January 13, 2020, the Committee on Foreign Investment in the United States (CFIUS) within the United States Department of the Treasury issued two final regulations implementing the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). FIRRMA, which was signed into law in August 2018, broadens the authority of the president and CFIUS to review certain non-controlling foreign investments in US businesses that deal in critical technologies or collect sensitive personal data of US citizens.
On September 24, 2019, the Treasury Department published two proposed rules to implement provisions of FIRRMA. Public comments on the proposed rules were due by October 17, 2019. This client alert provides a high-level summary of some of the key provisions in the two now-final CFIUS regulations: one for covered investments and the other for covered real estate investments.
To read the full alert, please click here