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ARTICLE · 31 OCTOBER 2022

CFIUS Issues Its First-Ever Enforcement And Penalty Guidelines

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The Guidelines address three categories of acts or omissions that may constitute a violation.

United StatesGovernment, Public Sector
John Barker
John Barker
John Bellinger, III
John Bellinger, III
Charles Blanchard
Charles Blanchard
Ronald Lee
Ronald Lee
Soo-Mi Rhee
Soo-Mi Rhee
Adam M. Pergament
Adam M. Pergament
Nicholas Townsend
Nicholas Townsend
Bell Johnson
Bell Johnson
Volodymyr Ponomarov
Volodymyr Ponomarov
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On October 20, 2022, the Committee on Foreign Investment in the United States (CFIUS), which is chaired by US Department of the Treasury, issued its first-ever Enforcement and Penalty Guidelines (the Guidelines) for entities that violate mitigation agreements with CFIUS or otherwise run afoul of Section 721 of the Defense Production Act of 1950 and the regulations promulgated thereunder. The Guidelines are intended to provide some clarity on CFIUS enforcement and penalty matters for inbound investors, including with respect to: (1) the types of conduct that may constitute a violation; (2) the sources of information CFIUS uses to determine if a violation occurred; (3) what aggravating and mitigating factors CFIUS may consider; and (4) CFIUS' penalty processes and procedures.

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