For the first time in more than a decade, legislation to expand the scope of business transactions scrutinized by the Committee on Foreign Investment in the U.S. (CFIUS) is gaining momentum in Congress. Lawmakers on both sides of the aisle have for years sounded the alarm over the national security and economic risks posed by increasing foreign investment in U.S. companies. To address those concerns, they are now rallying behind the Foreign Investment Risk Review Modernization Act of 2017 (FIRRMA). The legislation would drastically increase the type and number of transactions that would be subject to review and substantially alter the process for filings. These changes have real implications for a range of industries and investors, including many that have historically paid little attention to CFIUS.
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