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ARTICLE · 02 OCTOBER 2019

New Proposed CFIUS Regulations Implementing FIRRMA

Pillsbury Winthrop Shaw Pittman
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On September 17, 2019, the U.S. Department of Treasury issued two new proposed rules for the Committee on Foreign Investment in the United States (CFIUS)

United StatesGovernment, Public Sector
Christopher Wall
Christopher Wall
Nancy Fischer
Nancy Fischer
Aaron R. Hutman
Aaron R. Hutman
Matthew R. Rabinowitz
Matthew R. Rabinowitz
Jorge Vera
Jorge Vera
Roya Motazedi
Roya Motazedi

On September 17, 2019, the U.S. Department of Treasury issued two new proposed rules for the Committee on Foreign Investment in the United States (CFIUS) implementing the Foreign Investment Risk Review Modernization Act (FIRRMA), which was enacted in August 2018. The first proposed rule covers, among other things, FIRRMA's expansion of CFIUS' jurisdiction to non-controlling investments in U.S. businesses engaged in critical technology, critical infrastructure and sensitive personal data. The second proposed rule addresses FIRRMA's expansion of CFIUS' jurisdiction over certain real estate transactions.

The two proposed rules will be published in the Federal Register on September 24, 2019. Interested parties may submit written comments through October 17, 2019. As required by statute, final regulations implementing FIRRMA must become effective no later than February 13, 2020.

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