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ARTICLE · 12 AUGUST 2022

2021 Annual Report Shows Record CFIUS Activity

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Last week, the Committee on Foreign Investment in the United States released the public version of its annual report to Congress on activities during calendar year 2021.

United StatesGovernment, Public Sector
Timothy Keeler
Timothy Keeler
Mickey Leibner
Mickey Leibner
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Last week, the Committee on Foreign Investment in the United States (CFIUS) released the public version of its annual report to Congress on activities during calendar year 2021. It comes as no surprise that the report shows another increase in activity. 2021 was the first full calendar year following the implementation of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which expanded CFIUS's jurisdiction and allowed for the submission of short-form Declarations, among other measures. As a result, the annual report provides the first full set of data on FIRRMA's effects on foreign investment reviews.

Use of the Declaration process continued to grow in 2021, with 164 Declarations evaluated over the course of the year. By comparison, CFIUS conducted assessments of 126 Declarations from mid-February 2020 (when the FIRRMA regulations went into effect) through the end of that year.

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