The Foreign Investment Risk Review Modernization Act of 2018
On 13 August 2018 changes to the foreign investment review process under the Committee for Foreign Investment in the United States (CFIUS) came into effect. The changes, set out in sections 1701 and following of the Foreign Investment Risk Review Modernization Act (FIRRMA) expand the scope of covered transactions to address growing national security concerns and extend the timeline for CFIUS reviews. On 11 October 2018, an Interim Rule brought further clarifications on the process and procedures. Further changes – such as the expansion of CFIUS jurisdiction and filing obligations – will come into effect when implementing regulations have been adopted or within 18 months from the entry into force of FIRRMA.
Type: Entry and establishment (Approval and admission)
Industry: Not industry specific
- U.S. DEPARTMENT OF THE TREASURY, TITLE XVII—REVIEW OF FOREIGN INVESTMENT AND EXPORT CONTROLS , Aug 13, 2018