CFIUS chief details enforcement expansion after new rules

The Committee on Foreign Investment in the United States (‘CFIUS’) has levied eight civil monetary penalties in the past two years – four times more than in its entire previous history – Assistant Secretary for Investment Security Paul Rosen revealed 19 November, one day after announcing major enforcement authority updates.

The new regulations, marking the first substantial revision to CFIUS monitoring provisions since 2018, expand the committee’s ability to demand information about unreported transactions, set mitigation response deadlines, and increase maximum penalties for violations.

‘These enhancements are drawn from lessons learned as we have increased our focus on compliance, monitoring, and enforcement over the last few years,’ Rosen said, speaking at the annual CFIUS conference.

He noted the committee has ‘for the first time’ used its subpoena powers while conducting over 40 domestic and international site visits in 2023. CFIUS is actively monitoring about 240 mitigation agreements and recently expanded its real estate review jurisdiction to include more than 60 military bases across 30 states.

https://home.treasury.gov/news/press-releases/jy2723