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 August 17, 2020, the US Commerce Department’s Bureau of Industry and Security (“BIS”) issued a final rule (“Final Rule”) (i) expanding the Export Administration Regulations (“EAR”) General Prohibition Three (the foreign-produced direct product rule, or the “FPDP Rule”) to further restrict Huawei Technologies Co. Ltd. and its affiliates designated on the BIS Entity List (collectively, “Huawei”) from acquiring foreign-produced semiconductors that are the direct product of certain US software and technology, (ii) removing the…
On July 24, 2020, the Trump Administration announced a new policy (the “Updated UAS Policy”) on exports of US-origin unmanned aerial systems (“UAS”), also known as “drones.” The Updated UAS Policy follows the Trump Administration’s UAS policy reforms announced in April 2018 (“April 2018 UAS Export Policy”), which allowed exports of certain US-origin armed and unarmed UAS to occur via direct sales between US companies and foreign end users. Our previous blog post on the…
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…