CFIUS Update: New Requirements to Meet, New Industries Affected
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In 2018, the US government enacted significant changes to its process for reviewing foreign investments that could have an impact on US national security. As a result, more types of investment in more industries may now be subject to review by the Committee on Foreign Investment in the United States. Foreign investors in health care, financial services, and real estate – in addition to investors in the defense and high-technology sectors – all now need to be aware that CFIUS review of their investment may be required.
In addition, a new mandatory declaration process has been created so that some investments must be notified to CFIUS. This is a substantial change – previously, in almost all cases, the decision to notify CFIUS of a transaction was voluntary. And even very minor investments can be subject to CFIUS review if there is any chance that the foreign investor will, through the investment, obtain control over a US business.
In this increasingly regulated landscape it is essential to understand the new rules and strategies for successfully navigating the CFIUS review process. Review periods are longer, and filing requirements have changed. Failing to handle the CFIUS process can lead to termination of an otherwise smooth transaction.
In this timely program, our panel will provide an overview of the current CFIUS rules, including when a mandatory declaration is required and the details such a declaration must include. We will also discuss the new, longer time horizons for getting CFIUS matters reviewed and approved. And we will provide guidance on how to navigate the CFIUS process successfully.
Given the expansion of CFIUS’s jurisdiction, this is an important program for internal and external corporate advisers, whether legal, accounting, investment advisors, or other counselors involved in foreign investment in the United States.
- Background on CFIUS
- Key provisions of Foreign Investment Risk Review Modernization Act (FIRRMA)
- New requirements under FIRRMA
- Emerging and foundational technology
- Mandatory declaration
- When required
- Analysis and observations on new requirements
- Potential impact on healthcare and medical industries
- Strategy for when to make a mandatory declaration
- Discussion / Audience questions
Target Audience: Outside counsel to US and non-US companies, investment bankers and other transaction advisers, in-house counsel
This webinar will provide PowerPoint slides and include live video and commentary from Thaddeus McBride, who focuses his practice on counseling clients on compliance with US export regulations (ITAR and EAR), economic sanctions and embargoes, and the Foreign Corrupt Practices Act (FCPA). He also handles matters in the increasingly regulated area of importation (CBP), advises clients on anti-boycott controls, and assists companies with matters involving the Committee on Foreign Investment in the United States (CFIUS). Thad supports international companies across a range of industries, including aviation, automotive, defense, energy, financial services, manufacturing, medical devices, oilfield services, professional services, research and development, and technology.
Kris Kemp is a partner at Bass Berry & Sims in Nashville, Tennessee who focuses on merger and acquisition transactions, securities offerings, and representation of private equity and venture backed companies. Kris is routinely involved in high-profile transactions, including cross-border transactions involving companies in healthcare, technology, and other sensitive industries. Kris is regularly recognized by Chambers and others as a go-to lawyer for challenging transactional work.
- Internet (broadband recommended)
- Speakers/headset is required to hear the presentation
- Access to your computer to install a small plug-in required by the webinar software
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April 14, 2019
1 hour 30 minutes
Comprised of 1 hour of commentary and 30 minute Q&A session
1 Participant: $150.00
2-5 Participants: $112.50 each
(25% discount for all participants)
6 or more Participants: $75.00 each
(50% discount for all participants)
ECoP® EAR or ITAR Renewal Credits:
Event #: 13661