limit the expansion of CFIUS's jurisdiction and mandatory filing requirements by loosening the requirements to be an "excepted investor" and by adding a number of exemptions to mandatory filing requirements for investments in companies involved with critical technologies. FIRRMA does not change CFIUS's...
Evaluate whether a transaction triggers any CFIUS mandatory declaration requirement, and, if not, consider conducting a risk-based analysis to determine whether a voluntary filing is a good option; Remember that CFIUS plans to issue filing fee requirements at a later date, which should be considere...
How to proactively structure a deal so as not to trigger a filing Considerations for the buyer or the seller, and who should care more What matters to the foreign investor 3:30 pm Networking Break 3:45 pm PART TWO: EXECUTIVE ORDER ON SUPPLY CHAIN RESILIENCE Critical Infrastructure This ...
which is a short-form filing assessed in 30 days. Complex deals involving countries and sectors deemed to be higher risk are unlikely to benefit from the fast-track process, but for deals less likely to pose national security concerns, the declaration process can be useful....
Plan for More Time.CFIUS is extremely busy and the CFIUS process is complex. Parties should plan for at least four to six months from start to finish. This includes gathering and compiling the information necessary for a CFIUS filing, allowing CFIUS to review and comment on a draft filing, ...
to staged transactions. Specifically, CFIUS clarified that the “completion date” triggering the deadline for submitting a mandatory filing is the date that the ownership interest is conveyed, not the later date on which the foreign person acquires the non-passive rights that would trigger the man...
CFIUS remains a largely voluntary process under the updated statute and regulations. The final regulations give substance to FIRRMA’s tight focus on critical technologies, critical infrastructure, and the sensitive personal data of US citizens. TID businesses are not subject to mandatory ...
Changes to the CFIUS Process FIRRMA introduces a number of administrative changes to the CFIUS process, including adjustments to the CFIUS timeline, the establishment of filing fees and the creation of short-form summary filings that in some cases will be mandatory. CFIUS will also disclose, as ...
we may also see a heightened outreach on real estate transactions through CFIUS’s non-notified process, as discussed in more detail below. Companies and investors should be prepared to respond to this outreach if they do not elect to make a CFIUS filing, as well as to assess whether the...
“clock” by the parties: In 2019, there were only 30 withdrawals compared to 64 in 2018. In addition, despite extenuating circumstances in some individual cases, CFIUS dealt with the pre-filing process for transactions efficiently over the past year. For JVNs, CFIUS on average provided ...