U.S. House passes CFIUS reform bill
The U.S. House of Representatives this week passed by an overwhelming margin legislation to reform how foreign direct investments are reviewed for national security purposes.
The bill spells out more clearly how the interagency Committee on Foreign Investment in the United States should handle foreign acquisitions of U.S. companies. Key provisions require more attention by senior policymakers and notification of Congress.
Acquisitions of companies by foreign governments would trigger automatic government review. Approved deals could be reopened if safeguards agreed to by the company are not implemented.
Impetus for the bill came from last year's failed attempt by Dubai Ports World to acquire rights to manage U.S. marine terminals.
The U.S. Chamber of Commerce applauded the vote, saying it balances the need to attract foreign investment with the need to protect national security.
The Senate has yet to address CFIUS reform during this session of Congress.
U.S. House passes CFIUS reform bill
