Tyler McGaughey, a partner in Winston's Washington
office, and the former Deputy Assistant Secretary (DAS) for
Investment Security at the U.S. Department of the Treasury, offers
his thoughts on the key takeaways from CFIUS's recently
published annual report for 2020, a year that was heavily impacted
by the COVID-19 pandemic, and the first year that its new
regulations were effective.
A few weeks ago, CFIUS published its annual report for calendar
year 2020. The report can be found here. CFIUS's annual reports are a major
event for dealmakers and other CFIUS watchers because they
represent one of the only times that CFIUS publicly reveals
information about its operations, which by law are highly
confidential. Moreover, this year's report is the first since
CFIUS published its new regulations, which became effective on
February 13, 2020, and offers dealmakers their first glimpse of how
CFIUS is handling some of its new authorities.
