On July 26, 2021, the Committee on Foreign Investment in the United States (“CFIUS”) released its annual report for calendar year 2020 (the “Annual Report”). The Annual Report, which provides data on transactions filed with CFIUS in 2020, shows procedural improvements to the CFIUS process following full implementation of the Foreign Investment Risk Review Modernization Act (“FIRRMA”) on February 13, 2020. Short-form declaration filings are up by 35% from 2019 and CFIUS has cleared over…
With global foreign investment scrutiny on the rise, not least in the current COVID-19 environment, obtaining concise, accessible advice has never been more important. Enter Baker McKenzie’s bespoke Foreign Investment Review Evaluation (FIRE) tool. FIRE is a Baker McKenzie analysis platform that answers 51 detailed questions on foreign investment review regimes across 26 key jurisdictions. It is updated in real time and provides depth and legal certainty for companies. FIRE is an automated database. Users…
As of October 15, 2020, the critical technology mandatory filing requirement under the regulations of the Committee on Foreign Investment in the United States (“CFIUS”) closely tracks US export licensing requirements. This development in the foreign investment space aligns with the US government’s initiative to promote innovation and the protection of US technologies for national security purposes, as set out in the National Strategy for Critical and Emerging Technologies, released on October 15. Filings with…
On September 15, 2020, the Treasury Department published the anticipated final rule modifying the scope of the critical technology filing requirement under the regulations of the Committee on Foreign Investment in the United States (“CFIUS”). The final rule tracks the proposed rule issued on May 21, 2020 in aligning more closely filing requirements for foreign investments with export licensing requirements. Effective October 15, 2020, filings will be mandatory for foreign investments in US critical technology…
On January 13, 2020, the U.S. Department of Treasury (“Treasury”) issued two anticipated final rules (the “Final Rules”) that replace the existing regulations governing the Committee on Foreign Investment in the United States (“CFIUS”). The Final Rules implement the Foreign Investment Risk Review Modernization Act (“FIRRMA”) enacted in August 2018, which expanded the United States’ foreign investment review regime. FIRRMA mandated pre-closing notification of certain foreign investments and expanded the scope of transactions subject to…
On September 17, 2019, the Department of Treasury (“Treasury”) released for public comment two proposed rules (the “Proposed Rules”) implementing the Foreign Investment Risk Review Modernization Act (“FIRRMA”) enacted in August 2018. FIRRMA expanded the jurisdiction of the Committee on Foreign Investment in the United States (“CFIUS”) and granted CFIUS new tools to regulate foreign investments raising national security concerns. Our previous analysis of FIRRMA is available here, and our analysis of the “critical technologies”…