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April 21, 2008
HP-937
Treasury Issues Proposed CFIUS Regulations; Lowery to Hold Briefing Today
Washington, D.C.--The Treasury Department today issued proposed regulations that implement the Foreign Investment and National Security Act of 2007 (FINSA). The proposed regulations provide an update to regulations issued in 1991 that govern the Committee on Foreign Investment in the United States (CFIUS) and its process for national security review of certain foreign investments in U.S. businesses. They reflect reforms made to the CFIUS process by FINSA and the CFIUS executive order issued by President Bush on January 23 of this year.
"These regulations reflect America's strong and continued commitment to safeguarding U.S. national security in a manner that reinforces the longstanding U.S. policy of welcoming foreign investment. The proposed regulations increase clarity and make additional improvements based on experience," said Assistant Secretary for International Affairs Clay Lowery.
The Treasury Department is requesting comments on the proposed regulations; a public comment period will extend for 45 days from publication later this week in the Federal Register. The Treasury Department will hold a public meeting to receive comments on the proposed regulations on May 2, 2008 in the Department's Cash Room. Further details on the meeting and submission of comments can be found in the opening pages of the regulations.
Assistant Secretary for International Affairs Clay Lowery will hold a briefing for media on the proposed regulations this afternoon.
Who
Assistant Secretary for International Affairs Clay Lowery
What
Pen-and-pad Briefing on Proposed CFIUS Regulations
When
Monday, April 21, 3:00 p.m. EST
Where
U.S. Treasury Department
1500 Pennsylvania Avenue, NW – Media Room (4121)
Washington, D.C.
Note
Media without Treasury press credentials should contact Frances Anderson at (202) 622-2439, or frances.anderson@do.treas.gov with the following information: full name, Social Security number and date of birth. No cameras will be permitted into the briefing.
REPORTS