FDI/CFIUS

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The Committee on Foreign Investment in the United States (CFIUS or the “Committee”), an inter-agency committee headed by the Department of the Treasury, has released its 2020 Annual Report to Congress (Report). CFIUS is authorized to review transactions that could result in the control of U.S. businesses by foreign persons or companies, as well as…

Effective October 15, 2020, the Department of the Treasury’s September 15 final rule (“Rule”) will modify certain regulations of the Committee on Foreign Investment in the United States (CFIUS) pursuant to the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). In a previous blog post, we noted that the Rule would change the…

On September 24, 2020, the U.S. Department of Commerce published a Federal Register notice listing prohibited transactions with ByteDance Ltd. and its subsidiaries including TikTok, Inc., pursuant to President Trump’s August 6, 2020 Executive Order declaring TikTok a national security threat and directing Commerce to define the scope of prohibited “transactions” with TikTok by September…

On September 18, 2020, the U.S. Department of Commerce announced prohibitions on transactions relating to the mobile applications WeChat and TikTok in order to “safeguard the national security of the United States” that were to become effective on September 20 and November 12, 2020. This announcement followed President Trump’s August 6, 2020 executive orders declaring…

On August 27, 2020, the Department of Commerce’s Bureau of Industry and Security (“BIS”) published in the Federal Register an advance notice of proposed rulemaking (ANPRM) for foundational technologies and asked for public comment on the categories of technologies for which BIS should issue controls. Specifically, BIS is soliciting public comments through October 26, 2020,…

On August 24, 2020, TikTok Inc. and its Chinese parent, ByteDance, Ltd., filed suit in the Central District of California against President Donald J. Trump, Secretary of Commerce Wilbur Ross and the U.S. Department of Commerce, in an effort to prevent the government from banning its video-sharing mobile application pursuant to the Executive Order issued…

On August 14, 2020, after an extensive review and unanimous recommendation by the Committee on Foreign Investment in the United States (CFIUS), President Donald Trump issued an Executive Order directing that the already completed transaction that resulted in the acquisition of Musical.ly, now known as TikTok, by the Chinese company ByteDance Ltd. be unwound. The…

The Committee on Foreign Investment in the United States (CFIUS), an inter-agency committee headed by the Department of the Treasury, has released its annual report for 2018. CFIUS is authorized to review transactions that could result in the control of U.S. businesses by foreign persons or companies, as well as non-controlling investments by foreign…