The Treasury Department received mixed feedback about its decision to delay new regulations that were set to make investment advisers subject to anti-money-laundering (AML) and countering the financing of terrorism (CFT) requirements, a Biden-era effort that was meant to prevent criminals from hiding money in the U.S. and sanctioned companies from accessing sensitive technology through investments in American firms (see 2509230035 and 2507240021).
Twelve Senate Democrats urged President Donald Trump Oct. 29 not to ease U.S. restrictions on inbound or outbound investment as part of a potential trade deal with China this week.
House Select Committee on China ranking member Raja Krishnamoorthi, D-Ill., said Oct. 29 that Congress might need to pass legislation to enhance the ability of the Committee on Foreign Investment in the U.S. to screen transactions for national security risks.
Sen. Rick Scott, R-Fla., urged the Treasury Department Oct. 15 to use the Committee on Foreign Investment in the U.S. to review reports that China-based investors are buying Southern California land ravaged by January wildfires.
A partial U.S. government shutdown Oct. 1 likely would slow but not stop the work of the Committee on Foreign Investment in the U.S., Freshfields said in a client alert Sept. 30.
The Senate Banking Committee voted 13-11 along party lines Sept. 30 to approve the nomination of Christopher Pilkerton to be the Treasury Department's assistant secretary for investment security. The committee also voted 15-9 to support Jonathan Burke to be Treasury’s assistant secretary for terrorist financing. Sens. Mark Warner, D-Va., and Raphael Warnock, D-Ga., joined the panel’s Republicans in backing Burke. Both nominations now head to the full Senate for its consideration.
U.S. export controls on chips are working and should be maintained, not swapped in a trade deal as part of a “grand bargain” between the Trump administration and Beijing (see 2507150013 and 2508010002), said Rush Doshi, former National Security Council official during the Biden administration.
Sen. Catherine Cortez Masto, D-Nev., and Sen. Dave McCormick, R-Pa., introduced a bill last week to direct the Office of the U.S. Trade Representative to prioritize convincing Canada and Mexico to institute a foreign investment review board similar to the Committee on Foreign Investment in the United States, or CFIUS.
Rep. Chris Pappas, D-N.H., introduced a bill Sept. 9 that would authorize the Committee on Foreign Investment in the U.S. to review and block foreign purchases of American real estate located near critical infrastructure, including drinking water facilities.
Christopher Pilkerton, President Donald Trump’s nominee to be the Treasury Department's assistant secretary for investment security (see 2506040013), said Sept. 4 that he would aim to increase compliance with U.S. requirements for foreign investment.