The Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) released the CFIUS Annual Report to Congress for calendar year 2022 (the “Report”). Of note, the Report reflects a slight increase in filings for 2022 (and a record number of notice filings), a significant decrease in declarations “cleared” within CFIUS’s 30-day assessment period, and an increased number of CFIUS filings resulting in mitigation. Additionally, the Report highlights President Joe Biden’s September 2022 executive order (“E.O.”), which is designed to “sharpen the Committee’s focus on. . . national security risk factors,” including supply chain security and U.S. technological leadership.
We highlight below ten key takeaways from the Report:
For further information or assistance regarding transactions potentially subject to CFIUS’s jurisdiction or general CFIUS trends, please contact any of the listed Hogan Lovells attorneys.
Authored by Brian Curran, Anne Salladin, Zachary Alvarez, Patrick Miller, and Cassady Cohick.
Recent CFIUS developments: Annual Report for 2021 & new executive order
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