CFIUS Builds on 2022 Activity, Promising More Investor Oversight
Foley Hoag – The Committee on Foreign Investment in the United States had a busy year in 2022, and shows no sign of slowing down in 2023. The inter-agency committee of the US government reviews national security implications of foreign investments in US companies. The Biden administration actively provided guidance on CFIUS’s activities last year. In September, President Biden issued an executive order instructing the committee to consider particular national security risk factors when reviewing covered transactions. And in October, the Department of Treasury, the chair of CFIUS, released the first-ever Enforcement and Penalty Guidelines, providing important visibility into the committee’s enforcement approach. These releases reinforce a continuation of trends seen over the past few years and suggest increased committee activity in the year to come.