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ARTICLE · 10 FEBRUARY 2023

CFIUS Year In Review

Foley Hoag LLP
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On September 15, 2022, President Biden issued an Executive Order (the Order) instructing the Committee on Foreign Investment in the United States (CFIUS)...

United StatesGovernment, Public Sector
Foley Hoag LLP
Foley Hoag LLP
Shrutih Tewarie
Shrutih Tewarie
Luciano Racco
Luciano Racco
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Key Takeaways:

  • CFIUS reviewed a record number of transactions in 2021 according to its most recent annual report – and shows no signs of slowing down.
  • High technology (including quantum computing), life sciences, and green energy technology will continue to be key areas of interest to CFIUS, as will critical technologies.
  • A larger percentage of declarations are being cleared by CFIUS and the percentage of notices cleared with mitigation measures remains low and steady.
  • Non-notified/non-declared transactions will be under heightened scrutiny by CFIUS as it devotes resources to identifying such transactions through a variety of channels.
  • CFIUS has emphasized that it will increase enforcement including for non-notified/non-declared transactions where a filing was mandatory, along with non-compliance with CFIUS mitigation terms, and inaccuracies in CFIUS reporting.

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