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U.S. Treasury Department announces new draft regulations for reviewing foreign investment

Views: 5     Author: Site Editor     Publish Time: 2019-09-22      Origin: Site

Information source: Xinhuanet Time: 2019-09-16

On the 17th, the US Treasury Department announced draft regulations to strengthen national security review of foreign investment in US key technologies, critical infrastructure, and sensitive personal data. This makes it more difficult for foreign investors to invest in these fields in the future.

The U.S. Treasury Department issued a statement on the same day saying that these draft regulations were issued to implement the \"Foreign Investment Risk Review Modernization Act\" that came into effect in 2018. This law expands the scope of the U.S. Foreign Investment Commission’s review to address those that were not previously under its jurisdiction The impact of foreign investment and transactions on national security.

The U.S. Treasury Department stated that interested parties can submit written comments on the contents within 30 days of the draft regulations. The final version of the regulations will take effect before February 13, 2020.

The US Foreign Investment Commission is a cross-sector government agency led by the US Treasury Department and responsible for conducting national security reviews of foreign investments in the United States. In recent years, the agency has strengthened the national security review of foreign companies investing in the United States. Its review procedures are opaque, discretionary, and the reasons for vetoes disclosed are unknown. They often reject normal transactions on the grounds of \"endangering national security\". Characteristics of investment protectionism.

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