Publications & Presentations
August 2018

The President of the United States has the statutory authority to block or unwind foreign investment that he or she believes impairs the national security.  Authority to review transactions and proposed transactions for national security purposes is vested in the Committee on Foreign Investment in the United States (“CFIUS”), which is an inter-agency committee housed in the Department of Treasury.  The jurisdiction of CFIUS extends to “covered transactions,” which are typically investments that will result in the “control” of a U.S. business by a foreign party.

As part of the 2018 National Defense Authorization Act, Congress has passed, and the President has signed, a CFIUS reform measure known as the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”).  The following are some of the most important changes to the CFIUS process under the new law:

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