Foreign investors are increasingly incorporating the regulatory requirements of the Committee on Foreign Investment in the U.S. into the due diligence they conduct for U.S. transactions, a trade lawyer said in an interview.
European lawmakers are concerned more aggressive China-related policies put in place by the incoming Trump administration, including around investment screening, could lead more Chinese companies to shift their investments to Europe, possibly raising national and economic security risks for EU member states, they said this week.
A mostly Republican group of 44 House members urged the Treasury Department this month to push back implementation of the Financial Crimes Enforcement Network’s new beneficial ownership information (BOI) reporting rule.
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The U.S. government should create a joint interagency task force led by the national security adviser to develop better ways to prevent China from obtaining sensitive dual-use technology from the U.S. and its allies, a bipartisan congressionally mandated commission said Nov. 19.
The Committee on Foreign Investment in the U.S. soon will be able to impose higher penalties, collect a broader range of information from parties involved in non-notified transactions, fine companies and issue subpoenas in a wider set of circumstances, and gain other expanded powers as part of a final rule expected to be formally issued by the Treasury Department in the coming days.
The U.N. Security Council, which plans to draft a resolution this month on Sudan’s civil war, should “enforce accountability for member states violating” the arms embargo for Sudan’s Darfur region, Senate Foreign Relations Committee Chairman Ben Cardin, D-Md., said Nov. 14.
A new Government Accountability Office report found that 73% of firearms recovered from the Caribbean and traced by the Bureau of Alcohol, Tobacco, Firearms and Explosives from 2018 to 2022 could be sourced back to the U.S., underscoring the need to curb illegal gun exports to the region, a group of congressional Democrats said Nov. 14.
House Foreign Affairs Committee Chairman Michael McCaul., R-Texas, will not seek to lead the panel for another two-year term, a spokesperson said Nov. 15. McCaul had intended to request a waiver from term limits for House Republican committee leaders but has decided not to do so out of respect for his party's rules, the spokesperson said. As chairman, McCaul has advocated for tightening export controls on China, increasing enforcement of Iran sanctions and speeding up delivery of weapons to Israel. In the waning days of the current Congress, McCaul has been seeking to pass legislation restricting outbound investment in China (see 2410070008).
The Treasury Department issued a correction last week to fix a wrong date in its recently published final rule that will add 59 military bases to the jurisdiction of the Committee on Foreign Investment in the U.S. on Dec. 9 (see 2411070001). Treasury had written that the final rule was published in the Federal Register on Nov. 8, and it corrected that date to reflect the actual publication date of Nov. 7.