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CFIUS and the New Executive Order: Guidance on Review of National Security Risks, Tougher Due Diligence

Recording of a 90-minute CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Wednesday, November 30, 2022

Recorded event now available

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This CLE webinar will guide counsel on the first Executive Order (EO) specifying national security risks for the Committee on Foreign Investment in the United States (CFIUS) to consider in reviews. The panel will examine the five specific factors the EO directs CFIUS to consider when undergoing national security reviews as well as related implications. The panel will discuss what this EO means for due diligence and offer best practices for managing CFIUS risks.

Description

The September 15, 2022, EO is the first-ever EO to provide formal presidential direction on the risks that CFIUS should consider when reviewing a covered transaction. The EO provides CFIUS with specific national security factors and considerations it must consider when assessing a transaction. While these factors do not change the law or create new jurisdiction, the EO directs the Committee's priorities and highlights U.S. national security priorities.

The EO provides guidance for parties considering a transaction to identify potential national security risks that may impact a deal. The EO outlines the following factors:

  • A given transaction's effect on the resilience of critical U.S. supply chains that may have national security implications
  • A given transaction's effect on U.S. technological leadership in areas affecting U.S. national security
  • Industry investment trends that may have consequences for a given transaction's impact on U.S. national security when considered in the aggregate
  • Cybersecurity risks that threaten to impair national security
  • Risks to U.S. persons' sensitive data.

Listen as our authoritative panel examines the five specific factors the EO directs CFIUS to consider when understanding national security review. The panel will discuss what this EO means for due diligence and offer best practices for managing CFIUS risks.

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Outline

  1. New EO
    1. Factors
    2. Guidance
  2. Implications for due diligence
  3. Best practices
    1. Strategic considerations
    2. Managing the risk for transaction parties

Benefits

The panel will review these and other relevant issues:

  • What guidance does the new EO provide for transaction parties?
  • What are the implications for due diligence and CFIUS reviews?
  • What steps should counsel and companies take to address CFIUS issues related to cross-border transactions?

Faculty

Donahue, Jack
Jack F. Donahue

Managing Director
Accenture Strategy

Mr. Donahue is an executive in Accenture’s strategy consulting practice where he works with the leaders of Tech...  |  Read More

Mildorf, Karalyn
Karalyn Mildorf

Partner
White & Case

Ms. Mildorf is a partner in the firm’s National Security and CFIUS practice, focusing her practice in the areas...  |  Read More

Schomig, Keith
Keith Schomig

Partner
White & Case

Mr. Schomig is counsel in the Firm's National Security and CFIUS (Committee on Foreign Investment in the United...  |  Read More

Walker, Andrew
Andy M. Walker

Partner
Accenture Strategy

Mr. Walker is a strategy consultant and advisor to clients who are working to understand the business and financial...  |  Read More

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