President Signs Legislation Reforming CFIUS & Export Controls

Congress has continued its 57-year tradition of passing an annual defense authorization bill with the John S. McCain National Defense Authorization Act (NDAA) for Fiscal Year 2019 finalized by Congress on August 1 and signed into law by President Trump on August 13. The NDAA makes important reforms and updates to the process by which investments in U.S. businesses by foreign persons are reviewed by the Committee on Foreign Investment in the United States (CFIUS) and updates and codifies Department of Commerce practices related to export controls.

Many of the provisions discussed below will not take effect until new regulations are promulgated. As the regulatory process unfolds over the coming weeks and months, ML Strategies will actively monitor developments and engage with key executive branch officials with responsibility for drafting and implementing the new regulatory requirements. ML Strategies has high-level relationships within the Trump Administration,