Executive Order Codifies Current Practice For CFIUS

Law360, New York (January 31, 2008, 12:00 AM EST) -- Amid daily headlines of foreign investors taking stakes in blue chip U.S. businesses, President Bush has issued an Executive Order (13,456) implementing a 2007 law aimed at toughening U.S. government review of foreign acquisitions of U.S. companies on national security grounds.

U.S. government security reviews are performed under authority of the Exon-Florio law, which was amended last year by the Foreign Investment and National Security Act of 2007 (“FINSA”).

These reviews are conducted and enforced by an inter-agency body known as the Committee on Foreign Investment...
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