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ARTICLE · 09 FEBRUARY 2012

CFIUS Submits Annual Report To Congress

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The Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") recently submitted its annual report to Congress for calendar year 2010.

United StatesMedia, Telecoms, IT, Entertainment
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The Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") recently submitted its annual report to Congress for calendar year 2010. The report, which provides general information on notices filed, reviews and investigations completed by CFIUS during the year, and the types of security arrangements and conditions that the Committee has employed to mitigate national security concerns, reveals that a larger number of reviews are proceeding to the investigation stage and that the Committee is increasingly conditioning its tacit approval of transactions upon the parties' adoption and implementation of various mitigation measures.

Background

Section 721 of Title VII of the Defense Production Act of 1950, as amended ("Section 721"), authorizes the President to suspend or prohibit transactions that could result in control of a U.S. business by a foreign person ("covered transactions") if there is credible evidence to suggest that the foreign

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