On August 13, 2018, the president signed the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) into law, ushering in a new era for analyzing whether and how cross-border investments impact US national security interests.
While some aspects of FIRRMA codify existing practices by the Committee on Foreign Investment in the United States (CFIUS), the statute introduces a new framework that materially changes the manner in which CFIUS conducts these reviews and whether a transaction is subject to CFIUS jurisdiction. These modifications can affect the transaction overall, from how the parties conduct due diligence to the manner in which the deal documents are drafted. More recently, CFIUS issued regulations implementing a Pilot Program requiring the submission of mandatory declarations for a broad swath of foreign investments. This new requirement will capture numerous transactions not previously thought to be of concern to CFIUS, and authorize penalties for failure to submit the declarations.
Join us as we consider some of the following issues:
8:30 - 9:00 AM \\ Breakfast and registration
9:00 - 10:30 AM \\ Program
For more information or to register, please contact Iris Jacinto.
CLE credit: CLE credit in CA, FL, IL, NJ (via reciprocity), NY, PA, TX, and VA is currently pending approval.