Deadlines are fast approaching for drafting and implementing new rules for national security reviews of foreign investments in “critical infrastructure” in the U.S., and investors may be surprised at their extended reach, lawyers said.
Last year’s Foreign Investment Risk Review Modernization Act overhauled the law governing national security reviews by the Committee on Foreign Investment in the United States, which can recommend blocking or modifying transactions. Among other things, the act expanded jurisdiction under critical infrastructure to include non-passive, non-controlling investments in 16 sectors.
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