At a Senate Banking Committee hearing, Ranking Member Pat Toomey (R-PA) raised numerous concerns about the proposed "National Critical Capabilities Act," also known as "outbound CFIUS."
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The Treasury Department issued an interim final rule that "establishes a fee for parties filing a formal written notice of a transaction for review by the Committee on Foreign Investment in the United States.”
CFIUS proposed a filing fee for parties submitting for review voluntary notices of transactions. Comments on the proposal must be submitted by April 8, 2020.
In an Executive Order, President Trump blocked a Chinese technology company's acquisition of StayNTouch, Inc., a U.S. software company.
Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Sherrod Brown (D-OH), Mark Pocan (D-WI) and Pramila Jayapal (D-WA) introduced a bill to govern the private funds that engage in change in control transactions.