On January 13, 2020, the U.S. Treasury Department promulgated its final regulations implementing the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) to reform the authority and jurisdiction of the Committee on Foreign Investment in the United States (CFIUS). The final regulations were released in two parts: one addressing investments in U.S. businesses by foreign persons and the second addressing transactions by foreign persons involving U.S. real estate. These regulations build on non-binding proposed regulations that Treasury issued on September 17, 2019.

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