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Sylwia Lis

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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…

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 July 28, 2020, the Department of the Treasury issued a final rule formally implementing filing fees for formal notices of transactions submitted to the Committee on Foreign Investment in the United States (“CFIUS”). CFIUS filing fees were previously established in an interim rule on April 29, 2020, and are assessed on a sliding scale between $0 and $300,000, depending on the value of the transaction. In addition, the final rule also narrows the definition…

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”…