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New Bipartisan CFIUS Reform Begins To Take Shape

Law360, New York (November 13, 2017, 6:14 PM EST) -- On Nov. 8, 2017, Sen. John Cornyn, R-Texas, and Rep. Robert Pittenger, R-N.C., introduced the Foreign Investment Risk Review Modernization Act of 2017 (“FIRRMA”).[1] It is aimed at strengthening the Committee on Foreign Investment in the United States to address CFIUS’ perceived inadequacies in dealing with new vectors of foreign investment risk. Fourteen respected bipartisan co-sponsors, including House Intelligence Committee Chairman Devin Nunes, R-Calif., Senate Intelligence Committee Chairman Richard Burr, R-N.C., and Sen. Dianne Feinstein, D-Calif., backed the long-anticipated legislation.[2]

If enacted, FIRRMA would impose sweeping...
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