New Executive Order Creates Roadmap of Heightened CFIUS Scrutiny for Cross-Border M&A

Holland & Knight – President Joe Biden signed an Executive Order on Sept. 15, 2022, clarifying and elaborating key U.S. industries and business sectors that should expect heightened regulatory scrutiny from the Committee on Foreign Investment in the United States (CFIUS). While the new E.O. does not change the review process, legal jurisdiction or scope of reviewed transactions, it provides definitive guidance to CFIUS so that the review of cross-border investments and acquisitions remains responsive to evolving national security risks that impact U.S. supply chains, U.S. technological leadership, cybersecurity and U.S. persons’ sensitive data.

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