On March 29, 2021, the Commerce Department published an advance notice of proposed rulemaking (“ANPRM”) seeking public comment on potential licensing or other pre-clearance processes for transactions under the regulations that took effect on March 22, 2021 to implement Executive Order 13873, “Securing the Information and Communications Technology and Services Supply Chain” (“Executive Order 13873”). Executive Order 13873 authorizes the Commerce Department to block or impose conditions on transactions involving information and communications technology and…
Want to find out more? Read the full version of this update on our free global Foreign Investment and National Security blog at https://foreigninvestment.bakermckenzie.com Mandatory, CFIUS-style screening system in place for transactions in 17 industry sectors On 11 November 2020, the UK Government introduced the long-anticipated National Security & Investment Bill before Parliament. The new law will significantly expand the Government’s existing powers to review the national security implications of transactions and has been timed…
With global foreign investment scrutiny on the rise, not least in the current COVID-19 environment, staying fully informed and ahead of the curve has never been more important. For the latest developments and updates, please visit our new Foreign Investment and National Security blog (see here). This blog will keep users up-to-date in respect of global foreign investment review and national security trends and issues, informing you about the legal and business risks impacting your next…
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…