CFIUS Update: A More Refined Focus, Increased Risks

The U.S. government continues to aggressively monitor and impose restrictions on transactions deemed to threaten U.S. national security.

On a day-to-day basis, restrictions arise most commonly in the context of export controls and economic sanctions. In the case of investments and other transactions in the United States by foreign persons, the Committee on Foreign Investment in the United States (CFIUS) assesses potential national security risks.

This post examines recent U.S. government action and guidance that seeks to introduce greater clarity to the CFIUS review and enforcement process.

Background on CFIUS

CFIUS is a U.S. government committee comprised of representatives from multiple agencies, including the Department of the Treasury, which chairs CFIUS, and the Departments of Commerce, Defense, Energy, Homeland Security, Justice, and State. The U.S. Trade Representative and the White House's Office of Science and Technology Policy are also among those