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ARTICLE · 14 JANUARY 2020

CFIUS Jurisdiction Continues To Expand

Cleary Gottlieb Steen & Hamilton LLP
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In 2020, boards of directors will continue to face an evolving landscape in reviews of foreign investment by the Committee on Foreign...

United StatesGovernment, Public Sector

In 2020, boards of directors will continue to face an evolving landscape in reviews of foreign investment by the Committee on Foreign Investment in the United States (CFIUS), particularly with respect to issues relating to technology, infrastructure and personal data. Boards, and Technology Committees in particular, should be aware of these developments for their possible ramifications for foreign investment.

On September 17, 2019, the US Department of the Treasury proposed regulations1 implementing most of the remaining provisions of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which updated the statute authorizing CFIUS reviews of foreign investment. FIRRMA mandates that the final regulations enter into force by February 13, 2020.

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