National security always matters, obviously. But the reality
is that if you have an open door in your software for the good
guys, the bad guys get in there, too. - Tim Cook
Committee for Foreign Investment in the United States
("CFIUS") lurked in the background for years. CFIUS
is an interagency committee that primarily blocks mergers,
acquisitions, and takeovers by foreign entities that create a
potential national security risk. Most of the data for CFIUS'
decisions is classified, so the public's sole window into the
operations of CFIUS is its public testimony, mandated reports since
2007 and Congressional research reports. Despite having played a
significant role in some important transactions, it remains little
known. In the wake of the Foreign Investment Risk Review
Modernization Act ("FIRRMA") of 2018, largest-ever
expansion of CFIUS, the scramble to understand CFIUS is more
furious than ever.
