The United States may tighten restrictions on foreign ownership of real estate near military installations. On Monday, the Department of the Treasury issued a notice of proposed rulemaking that would expand the jurisdiction of the Committee on Foreign Investment in the U.S. CFIUS has the authority to deny the purchase or lease of properties around...
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Tag: CFIUS
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US Foreign Investment Committee Reports Record 2022 Filings
The Committee on Foreign Investment in the United States reviewed a total of 440 filings in 2022, compared with 436 in 2021. The Department of the Treasury, in a report it issued as CFIUS chair, said the record number of filings was based on the expanded export controls under FIRRMA, mandatory filings in some cases...
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Senate NDAA Amendments Call for Increased Scrutiny of Foreign Investment
The Senate has included two amendments to its version of the 2024 National Defense Authorization Act. The first amendment is the addition of the Outbound Investment Security Act, which would require U.S. companies to report to the Department of the Treasury certain high-tech investments in “countries of concern.” Senators also included the Promoting Agriculture Safeguards...
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FBI Probes Chinese Company Over Potential CFIUS Violation
The FBI has launched an investigation into Huafon’s potential violation of a national security agreement with the Committee on Foreign Investment in the United States in connection with the Chinese chemicals company’s acquisition of DuPont’s biomaterials business. CFIUS approved the $240 million acquisition deal, which was finalized in May 2022, with the condition that Huafon...
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US Chamber of Commerce Wants Clear-Cut Implementing Regulations in Treasury Provisions on Outbound Investments for Critical Tech
The U.S. Chamber of Commerce has suggested that the Department of the Treasury issue clear-cut implementing regulations in its “Provisions Pertaining to U.S. Investments in Certain National Security Technologies and Products in Countries of Concern.” The provisions, published on Aug. 14, follow the Aug. 9 issuance of Executive Order 14105 on “Addressing United States...
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CFIUS Urged to Forge Partnerships to Protect Private Data, National Security
Nathan Fisher, managing director at StoneTurn, has emphasized the need for the Committee on Foreign Investment in the United States to strike a balance between enabling economic growth and protecting national security interests, particularly with regard to sensitive data. In an opinion piece published in the Global Banking & Finance Review website, he suggests that this...
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Senators to File Protect Our Bases Act to Tighten Screening of Foreigners’ Land Purchases
Sens. Mike Crapo, R-Id., and Tim Scott, R-S.C., are set to introduce the Protect Our Bases Act of 2023 in the Senate to ensure a broader and tighter scrutiny of foreigners’ land purchases near U.S. military sites and other security-sensitive areas. The measure seeks to amend Section 721 of the Defense Production Act of 1950...
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Cyber Policy Experts Call for Better Laws on Online Security
The online security bills U.S. lawmakers are trying to legislate are “misguided” and designed to break encryption protecting personal privacy, according to cyber policy experts Tarah Wheeler and Geoffrey Cain. Wheeler, a Council on Foreign Relations senior fellow for global cyber policy, and Cain, a senior fellow in the tech policy think tank Foundation for...