Senate Bill Could Expand Mandatory CFIUS Filings Involving Personal Data
A Senate bill with bipartisan support would expand which deals involving sensitive personal U.S. data must be declared to the Committee on Foreign Investment in the U.S. The Protecting Sensitive Personal Data Act, introduced this month by Sens. Marco Rubio,…
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R-Fla., and Raphael Warncok, D-Ga., would require mandatory declarations for investments that involve a range of personal data information, including genetic test results, health conditions, insurance applications, financial hardship data, security clearance information, geolocation data, private emails, data for generating government identification and credit report information. Warnock said “foreign entities” are investing in U.S. companies to “exploit” this data. “We need to strengthen CFIUS’s oversight authority of these transactions to protect Americans and mitigate this serious national security threat,” Rubbio said.