It’s unclear exactly how the Treasury Department will use information it receives as part of the notification requirements in its upcoming outbound investment regulations, lawyers said, warning that those notifications could present reputational and business risks for certain American investors in China, especially if members of Congress see them.
Matt Cronin, chief investigative counsel for the House Select Committee on China, is leaving Congress for a job in the private sector, he announced on LinkedIn this week. Cronin began working for the committee in July 2023.
The Bureau of Industry and Security is “actively recruiting” members to join its Emerging Technology Technical Advisory Committee, Tara Gonzalez, a BIS senior policy adviser, said on LinkedIn this week. The committee gives feedback and recommendations to BIS as the agency pursues new controls on emerging dual-use technologies. BIS formally solicited new members for its various TACs in April, and those applications were due June 11 (see 2404110005).
House Financial Services Committee Chairman Patrick McHenry, R-N.C., asked the Government Accountability Office Oct. 15 to determine whether the Financial Crimes Enforcement Network is adequately securing the information it collects through its new beneficial ownership information (BOI) reporting rule.
Reps. Debbie Wasserman Schultz, D-Fla., and Maria Salazar, R-Fla., introduced a bill Oct. 15 that would prohibit U.S. firms from doing certain business with Venezuela’s energy sector, including its state-owned oil company, until President Nicolas Maduro concedes he lost the July 28 election.
The leaders of the House Select Committee on China urged the Commerce Department Oct. 16 to restrict exports of U.S.-made semiconductor manufacturing equipment (SME) to Huawei's “clandestine network” of companies.
The Committee on Foreign Investment in the U.S. is increasingly requiring companies to enter into mitigation agreements before approving a deal, and those agreements are getting more complex, said a former senior government official who worked on CFIUS cases. And although some companies fear the ongoing CFIUS review of Japan’s Nippon Steel signals that the committee could be veering away from its traditional national security focus, the former official said he’s not expecting the Nippon Steel case to spark a trend of politically motivated reviews.
House Foreign Affairs Committee leaders reacted differently to the sanctions the Biden administration announced this week against Algoney Hamdan Daglo Musa, the procurement director of Sudan's Rapid Support Forces (RSF) militia group, which is fighting the Sudanese Armed Forces.
Rep. Chris Smith, R-N.J., a senior member of the House Foreign Affairs Committee, urged the Biden administration late Oct. 7 to impose “robust” sanctions on the leaders of Sudan’s two warring parties for what his office called “gross violations of internationally recognized human rights.”
Canada’s Standing Committee on International Trade last week voted against delaying until April the implementation of the Canada Border Services Agency’s new Assessment and Revenue Management (CARM) system, setting up the new system to go live as planned on Oct. 21, the National Customs Brokers & Forwarders Association of America said in a message to its members. The committee, part of Canada’s House of Commons, struck down the motion 6-5, the NCBFAA said.