On August 13, 2018, President Trump signed into law the Foreign Investment Risk Review Modernization Act, or FIRRMA. This legislation was designed to enhance US national security and protect US technological achievements and superiority.
FIRRMA contains a number of provisions that modify the scope and responsibilities of the Committee on Foreign Investment in the United States, or CFIUS, in light of a constantly shifting economic landscape accentuated by exponential technological growth and advancement.
This article explores these modifications to CFIUS under FIRRMA, analyzes how they will apply to the cross-border transaction market going forward and makes recommendations for parties considering such transactions.
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Mayer Brown LLP’s partners Timothy J. Keeler, Mark Uhrynuk, and Brian F. McKenna with registered foreign lawyer Thomas A. De Gregoris and associate Mickey Leibner report on the new guidance and highlight areas of interest in this article. For more information, visit Mayer Brown LLP’s website.