In 2018, Congress passed the Foreign Investment Risk Review Modernization Act (FIRRMA) to modernize the Committee on Foreign Investment in the United States (CFIUS). CFIUS is chaired by the Secretary of the Treasury and is empowered to review certain transactions involving foreign investment in the U.S. that may affect national security.
CFIUS/Foreign Investment/Enforcement
Treasury Issues Final CFIUS Rules Implementing FIRRMA: Updates to the Proposed Rules and Where FIRRMA Landed
By Stephen T. Mears & John R. Ingrassia on
On January 13, 2020, the U.S. Department of Treasury issued final regulations (the “Final Rules”) that implement most of the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”). While the Final Rules provide some important clarifications to the proposed rules (the “Proposed Rules”) issued on September 17, 2019 (see our alert here), the…