Media Mention

Nova Daly Discusses Expansion of CFIUS Power to Review Foreign Investments in U.S. Technology

The Wall Street Journal
October 11, 2018

Nova J. Daly, senior public policy advisor in Wiley Rein’s International Trade and Privacy & Cybersecurity practices, was quoted by The Wall Street Journal in an October 10 article regarding the U.S. Department of the Treasury’s implementation of a new law that significantly expands the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS).

Rules issued by the Treasury this week will require foreign investors in certain deals involving critical U.S. technology to notify CFIUS or risk facing substantial fines, according to the article. The new law was prompted, in part, by concerns that certain technology deals in Silicon Valley in recent years would pose a threat to U.S. national security and technology leadership, including those from China. The regulations will bring more transactions – including noncontrolling foreign investments in U.S. companies – in front of CFIUS.

“This significantly changes the importance of CFIUS for foreign investors because it is now a mandatory process for a broad swath of technological acquisitions,“ said Mr. Daly, who previously ran the CFIUS process as Deputy Assistant Secretary at the Treasury.

The Wall Street Journal article can be found here (subscription required).

Read Time: 1 min

Related Professionals

Contact

Maria Woehr Aronson
Director of Communications
202.719.3132
maronson@wiley.law 

Molly Peterson
Senior Communications Manager
202.719.3109
mmpeterson@wiley.law

Jump to top of page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.