Long-awaited final rules from the U.S. Treasury Department governing national security reviews of foreign investments in U.S. companies were issued Monday, with importance for general counsel in specific industries—including venture capital—who are involved in cross-border dealmaking.

“General counsel and in-house counsel at companies involved in technology, infrastructure and data, which capture a broad spectrum of the economy should be aware of these changes, particularly the expanded jurisdiction of CFIUS and mandatory reporting requirements,” said Christian Davis, an international trade partner at Akin, Gump, Strauss, Hauer & Feld in Washington, D.C. He was referring to the Committee on Foreign Investment in the U.S., the interagency panel chaired by the Treasury secretary.

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