On July 23, 2024, the Committee on Foreign Investment in the United States (“CFIUS”) released its 2023 Annual Report to Congress. The Annual Report provides data on transactions filed with CFIUS in 2023, the third full calendar year following the introduction of the implementing regulations for the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”). Consistent with decreased global merger and acquisition activity in 2023, CFIUS received fewer notices and declarations of covered transactions…
On July 8, 2024, the U.S. Treasury Department’s Office of Investment Security announced a proposed rule that would expand the jurisdiction of the Committee on Foreign Investment in the United States (“CFIUS”) over transactions by foreign persons involving real estate in the United States. While CFIUS has jurisdiction over all acquisitions by foreign persons of US businesses, CFIUS also has authority to review acquisition of real estate unconnected with a US business where that real estate is…