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ARTICLE · 24 APRIL 2024

CFIUS Announces Changes To Penalties And Subpoena Authority

Kelley Drye & Warren LLP
Kelley Drye & Warren LLP
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On Thursday, April 11th, the Treasury Department, as Chair of the Committee on Foreign Investment in the United States (CFIUS)...

United StatesGovernment, Public Sector
Carrie Schroll
Carrie Schroll
Wyatt Mince
Wyatt Mince

Written with the assistance of Sean C. Church, Paralegal

On Thursday, April 11th, the Treasury Department, as Chair of the Committee on Foreign Investment in the United States (CFIUS), issued a Notice of Proposed Rulemaking (NPRM), bolstering CFIUS's authority and increasing its penalty and enforcement abilities. In issuing this newly proposed rule, CFIUS noted that the changes would be the largest since the Foreign Investment Risk Review Modernization Act of 2018.

CFIUS reviews "certain transactions involving foreign investment into businesses in the United States and certain transactions by foreign persons involving real estate in the United States" to understand the effect of such transactions on the United States' national security. CFIUS enforces compliance with statutes, regulations, and negotiated agreements, using its ability to impose civil monetary penalties and other remedies.

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