A congressional proposal to allow the Committee on Foreign Investment in the U.S. to reopen or alter previously mitigated transactions when national security risks have increased would discourage foreign investment in the United States, an expert at the Center for a New American Security said in written comments posted Jan. 4.
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The Committee on Foreign Investment in the U.S. is adding staff and becoming more active amid growing concern about China, Dechert said in a client alert.
U.S. Steel Corp. and Japan’s Nippon Steel Corp., which recently agreed to a merger, plan to ask the Committee on Foreign Investment in the U.S. to review their proposed deal, U.S. Steel said on Dec. 21.
At least seven Democratic and Republican lawmakers are urging the Committee on Foreign Investment in the U.S. to oppose or scrutinize the proposed acquisition of U.S. Steel Corp by Japan-based Nippon Steel Corp., saying the $14.9 billion deal raises serious economic and national security concerns.
Congress should require the Biden administration to strengthen export controls against China and give it new tools to restrict a broader range of inbound and outbound investments, the House Select Committee on China said in a Dec. 12 report.
Israel-based Nice and U.S.-based LiveVox Holdings, two software and technology companies that provide artificial intelligence-related products, submitted a voluntary filing with the Committee on Foreign Investment in the U.S. ahead of their proposed combination, Squire Patton said in a November client alert. In an SEC filing, the companies said CFIUS must approve their transaction before it can be completed.
A House bill that could apply blocking sanctions on a host of Chinese companies included on various government denied party lists would “create enormous problems” for U.S. companies doing business in China, said William Reinsch, a former Commerce Department official and current Scholl Chair in International Business at the Center for Strategic and International Studies.
Export Compliance Daily is providing readers with the top stories from last week in case you missed them. You can find any article by searching for the title or by clicking on the hyperlinked reference number.
DOJ is looking to apply its recently revamped corporate enforcement principles “across the entire Department,” including in cases involving the Committee on Foreign Investment in the U.S., Deputy Attorney General Lisa Monaco said during an event last week held by the Society of Corporate Compliance and Ethics. Monaco said companies “should expect more to come on this topic” as DOJ extends its policies “beyond the criminal context to other enforcement resolutions -- from breaches of affirmative civil case settlements to violations of CFIUS mitigation agreements or orders.”