Wednesday, May 28, 2008

CFIUS

The International Trade and Investment and Finance Committees of the DC Bar International Law Section, in cooperation with the International Trade Law Committee of the ABA Section of International Law / International Trade Committee present an Off-the-Record Luncheon Program on "A New Era for CFIUS:  The Proposed Regulations and Their Possible Implications."
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On April 23, 2008, the Department of the Treasury published in the Federal Register proposed regulations for implementing the amendments made to Section 721 of the Defense Production Act of 1950 by the Foreign Investment and National Security Act of 2007 (FINSA).  The proposed regulations would reform the process by which the multi-agency Committee on Foreign Investment in the United States (CFIUS) conducts national security reviews of certain foreign investments in U.S. businesses.  Among other things, the proposed regulations would expand the types of information that must be included in voluntary notices that are submitted to CFIUS and would allow civil penalties of up to $250,000 to be imposed on parties for material misstatements and omissions in voluntary notices or violations of material agreements entered into with CFIUS.  The proposed regulations also include definitions for a number of key terms, such a s “covered transaction,” “control,” “critical infrastructure,” “critical technologies,” and “foreign person,” which could affect how CFIUS reviews transactions.  A distinguished panel of experts will discuss the possible implications of the proposed regulations, as well as provide insights on CFIUS developments that have occurred since the enactment of FINSA.
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The speakers for the program will be
  • Louis Rothberg (Associate Counsel for International Cooperative Programs, U.S. Army);
  • Joseph Dennin (a partner at McKenna Long & Aldridge LLP);
  • Stephen Canner (Vice President, Investment and Financial Services, U.S. Council for International Business);
  • Nova Daly, Deputy Assistant Secretary for Investment Security, U.S. Department of the Treasury
  • Moderator:  Geoffrey Goodale, Foley & Lardner LLP (Moderator)
The program will be May 29, 2008 from 12:00 p.m. to 2:00 p.m. at
McKenna Long & Aldridge
1900 K Street, NW
(Farragut North)
Washington DC
Cost:
Law Students (no charge if registered in advance) $5.00
Government and Non-Profit Employees $25.00
Section Members and ABA Section of International Law $25.00
Non-Section Members $35.00
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(mew)

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