Recent Developments Regarding U.S. CFIUS Investment Screening and OFAC Sanctions

Firm Event | December.07.2018 | 8am - 10am ()

Orrick Rambaud Martel

Please join Orrick and U.S. partner Harry Clark for a discussion of "Recent Developments Regarding U.S. CFIUS Investment Screening and OFAC Sanctions" on December 7th in Orrick's Paris office.

Harry Clark is Chair of Orrick's International Trade & Compliance Group and has deep experience in areas such as CFIUS/Exon-Florio examinations of foreign investment, military and "dual use" export control regulations (ITAR/EAR), economic sanctions administered by the U.S. Treasury Department (OFAC), customs regulations, the Foreign Corrupt Practices Act, anti-money laundering rules, anti-boycott requirements and defense industrial security requirements.

In this presentation, Harry will describe new U.S. laws, regulations and regulatory practices that are expanding U.S. government restraints on international transactions connected to the United States.

He will address the August 2018 Foreign Investment Risk Review Modernization Act (FIRRMA) and other CFIUS changes, which are expanding the scope of U.S. investments that CFIUS can restrain and for the first time are designating transactions that must be notified to CFIUS. Key areas addressed by FIRRMA include:

  • minority investments by non-U.S. investors in U.S. companies holding "critical technology" (through funds and otherwise);
  • investment into U.S. venture capital funds by foreign investors;
  • acquisition or lease of certain types of U.S. real estate for foreign entities.

As to U.S. sanctions, Harry will explain, for example, expansion of Iran embargo and "secondary sanctions" measures following the United States' May 2018 withdrawal from the Joint Comprehensive Plan of Action (JCPOA) with Iran, and expanded Russia, North Korea, Syria and Iran sanctions under the August 2017 Countering America's Adversaries Through Sanctions Act (CAATSA).

We look forward to seeing you there.