The Department of the Treasury has released to Congress the report of the Committee on Foreign Investment in the United States for 2023, which details the committee’s activities and evaluated transactions for that calendar year.
The report’s highlights include sustained CFIUS caseloads despite lower global merger and acquisition activity in 2023, a higher clearance percentage of distinct transactions that did not require mitigation measures and fewer withdrawn and refiled transactions, the Treasury Department said Tuesday.
The report also notes the committee’s having assessed or imposed four civil monetary penalties for violations of material provisions of mitigation agreements.
Commenting on the committee’s activity in 2023, Assistant Secretary for Investment Security Paul Rosen said, “2023 was a busy year for CFIUS in reviewing transactions for national security risk, monitoring compliance with mitigation agreements, expanding the reach of its jurisdiction, and enforcing against violations of CFIUS legal authorities.”
“Last year CFIUS sharpened its review and enforcement toolkit while doubling down on efficiency and due diligence in reviewing and investigating covered transactions,” Rosen added.
The submission of the CFIUS report to Congress is mandated by Section 721 of the Defense Production Act of 1950, as amended.
