CFIUS Reform Update: Industry Groups and Investors Comment on Proposed FIRRMA Regulations
On September 17, 2019, the Office of Investment Security of the U.S. Department of the Treasury issued two proposed regulations intended to fully implement the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”). FIRRMA was enacted to expand the jurisdiction of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) and modernize its procedures. The period for public comment on the proposed regulations was open only until October 17. Under the statutory deadline in FIRRMA, CFIUS has until February 13, 2020, to consider the comments and issue a final set of regulations.