The Committee on Foreign Investment in the United States reform bill awaits President Donald Trump’s signature after passing through both houses of Congress this summer. U.S. companies dealing with foreign investors will soon have a whole new reality to contend with when Trump signs it into law Monday.
The bill, the Foreign Investment Risk Review Modernization Act of 2018, was included in the John S. McCain National Defense Authorization Act for fiscal year 2019. It expands the jurisdiction and the powers of the national security review process for transactions, making more reviews by the interagency panel mandatory instead of voluntary. The act also starts a long rulemaking process during which new regulations will be codified under the U.S. Treasury Department—which oversees the committee. They are expected to have a major impact.
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