The Department of the Treasury has proposed boosting the authorities of the Committee on Foreign Investment in the United States, which reviews foreign investment in U.S. businesses for national security concerns. In a proposed rulemaking notice released on Thursday, the department said the changes would help CFIUS accomplish its national security mission while supporting the...
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Tag: Committee on Foreign Investment in the United States
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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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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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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...