ARTICLE · 09 OCTOBER 2020

CFIUS Final Rule Leverages Export Control Principles To Redefine Mandatory Filing Requirements

Cooley LLP

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On September 15, 2020, the US Department of the Treasury issued a Final Rule comprising the latest regulation in an ongoing effort to reform the way the United States

United StatesGovernment, Public Sector

Patrick M. Stewart

Dillon Martinson

Christopher Kimball

Shannon MacMichael

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On September 15, 2020, the US Department of the Treasury issued a Final Rule comprising the latest regulation in an ongoing effort to reform the way the United States reviews and confronts the national security implications of foreign investments in US businesses. The Final Rule preserves many fundamental aspects of the preceding reforms but makes sweeping changes to the requirements for making mandatory disclosures to the US government prior to consummating certain types of foreign investments in and acquisitions of particular types of US businesses. These changes will require parties to foreign investment and acquisition transactions to undertake complex and multidisciplinary analyses to navigate a strict liability legal regime overseen by a government regulator with broad discretion to impose steep civil fines and punishing mitigation measures for noncompliance.

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