CFIUS Needs More Support, Not Overhaul, House Panel Told
By Benjamin Horney (January 9, 2018, 9:08 PM EST) -- The Committee on Foreign Investment in the United States needs modernized processes and additional resources to combat rivals like China, but proposed legislation that would expand CFIUS' jurisdiction may overburden the interagency committee, a panel of experts told the House Financial Services Committee on Tuesday.
The five-person panel of witnesses included attorneys from Baker McKenzie and O'Melveny & Myers LLP, along with a former director of national intelligence for the National Security Council. According to the group, CFIUS is not in need of a complete overhaul; instead, it needs to be provided with further resources, and its processes should be tweaked...
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