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.
U.S. intelligence agencies are warning American emerging technology startups about the risks of accepting certain foreign investments, saying “foreign threat actors” from China and elsewhere are using those investments as a guise to steal sensitive technology.
A July proposal to add nearly 60 military bases to the jurisdiction of the Committee on Foreign Investment in the U.S. (see 2407090003) shows that sensitive real estate issues are “top of mind” for the committee, said Matt Miller, an executive with data discovery firm HaystackID.
The Committee on Foreign Investment in the U.S. saw a spike in enforcement activity in 2023, fining four parties for breaching mitigation agreements and investigating several others for failing to comply with CFIUS mandatory filing requirements, the committee said in an annual report released July 23.
Public comments are due Aug. 19 on a Treasury Department proposed rule that would add 59 military bases across 30 states to the jurisdiction of the Committee on Foreign Investment in the U.S. The rule, which Treasury previewed earlier this month (see 2407090003) but was officially published in the Federal Register July 19, also proposed to increase the scope of transactions CFIUS can examine for land purchases near eight other military bases, amend the definition of “military installation” and make other technical changes to the list of bases.
The Treasury Department is proposing to add 59 military bases across 30 states to the jurisdiction of the Committee on Foreign Investment in the U.S., a move the agency said would “vastly expand the reach” of CFIUS powers over sensitive foreign purchases of U.S. land. Treasury is also proposing to increase the scope of transactions it can examine for land purchases near eight other military bases, amend the definition of “military installation” and make other technical changes to the list of bases.
The Committee on Foreign Investment in the U.S. has approved Japanese computing chip manufacturer Renesas Electronics Corp.'s acquisition of U.S.-based electronics design firm Altium Ltd., the two companies announced July 1. The CFIUS action was the last regulatory authorization needed to complete the $5.9 billion sale, the companies said. The transaction, unveiled in February, is expected to close Aug. 1 after receiving Altium shareholder approval July 12.
Two House members from Illinois urged the Committee on Foreign Investment in the U.S. last week to review a Chinese firm’s recently announced acquisition of a grain terminal in Cahokia, Illinois.
The Committee on Foreign Investment in the U.S. has approved the $2 billion sale of Vista Outdoor’s Kinetic Group business, formerly Sporting Products, to Czechoslovak Group (CSG), the buyer and seller announced June 25.
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.