Foreign Ownership of U.S. Real Estate: Increased Government Scrutiny, Administrative Obligations, and Penalties
Expanded CFIUS Jurisdiction and Restrictive State Legislation
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will describe recent federal and state efforts to regulate foreign ownership of U.S. real estate, including the recently proposed rule expanding CFIUS' jurisdiction and increased enactment of state legislation resulting in additional administrative obligations and costly penalties for violations. Panelists will discuss key considerations and challenges for counsel advising parties involved in foreign real estate transactions in the U.S.
Outline
- History behind the expanding regulation of foreign ownership of U.S. real estate
- CFIUS' proposed rule and potential impact
- Other proposed federal legislation
- State legislation
- Scope of legislation being proposed/enacted
- Discussion of noteworthy legislation
- Impact including potential costly penalties
- Key considerations and best practices for compliance
Benefits
The panel will review these and other key issues:
- How will CFIUS' expanded jurisdiction impact foreign real estate transactions in the U.S.?
- What other federal and state regulations should be considered even if foreign real estate transactions are not subject to CFIUS' jurisdiction?
- What steps should counsel and companies take to comply with increased regulations and address potential issues when considering foreign real estate transactions in the U.S.?
Faculty
Laura Black
Senior Counsel
Akin Gump Strauss Hauer & Feld
Ms. Black advises clients, including funds and multinational corporations, on investment screening within a broader... | Read More
Ms. Black advises clients, including funds and multinational corporations, on investment screening within a broader national security context and provides strategic guidance and planning. She also provides counsel on matters, including international investment risks, multijurisdictional reviews of transactions, cross-border mergers and acquisitions and emerging policy issues involving outbound investments by U.S. entities. Ms. Black joined the firm after serving 15 years at the U.S. Department of the Treasury, where she was most recently the first Director of Policy and International Relations of CFIUS. During her tenure at CFIUS, Ms. Black was the chief drafter of and led the process for scoping, drafting and finalizing the full set of regulations implementing the FIRRMA, the first expansion of CFIUS authority in three decades. She has played a leading role in the development of other investment regimes both within and outside the U.S. Ms. Black was actively involved in the development of proposals for a widely anticipated regulatory program for outbound U.S. investment in critical industry sectors.
Close
Christian C. Davis
Partner
Akin Gump Strauss Hauer & Feld
Mr. Davis’ practice focuses on U.S. law and policy affecting international trade and business. He advises clients... | Read More
Mr. Davis’ practice focuses on U.S. law and policy affecting international trade and business. He advises clients on foreign investment, export controls, sanctions, anticorruption, and customs laws. Mr. Davis’ practice focuses on representing clients in the merger, acquisition and divestiture process before the CFIUS and on accounting for associated risks. He also advises clients in negotiating and implementing CFIUS mitigation agreements, developing and administering international trade compliance programs .and conducting internal investigations.
Close
Katherine P. Padgett
Counsel
Akin Gump Strauss Hauer & Feld
Ms. Padgett’s practice focuses on a variety of international trade matters, including CFIUS reviews, export... | Read More
Ms. Padgett’s practice focuses on a variety of international trade matters, including CFIUS reviews, export controls, economic sanctions, national security and litigation strategy in international investment and arbitration. Prior to joining the firm, Ms. Padgett successfully served for nine years in the Office of the Legal Adviser (L) at the U.S. Department of State, including as the department’s lead CFIUS lawyer and principal lawyer on international investment matters. Additionally, she represented the State Department in interagency policy-making processes and worked closely with senior officials at the NSC, USTR, the departments of Justice, Defense, Treasury, Commerce and Homeland Security, and other federal agencies. Ms. Padgett was instrumental in advising State Department principals on CFIUS national security reviews of transactions, mitigation agreements, litigation strategy and congressional inquiries. She advised policy clients, including officials in the State Department’s Bureau of Political-Military Affairs, on compliance issues under the Arms Export Control Act and the International Traffic in Arms Regulations (ITAR), including in connection with foreign military sales and export licenses for direct commercial sales.
Close