제38차 DLA Piper 세미나 (The 38th DLA Piper Seminar Series)

[일시] 11월 26일 (화) 12시~1시 (점심 식사는 11:30 부터 제공 됩니다)

[장소] DLA Piper LLP (US) 서울 사무소 (서울 중구 수하동 을지로 5길 26, 미래에셋 센터원 서관 32층)

[RSVP] DLA Piper 서울 사무소의 노은송 차장에게 11월 20일 (수) 오후 5시까지 연락 주시기를 부탁 드립니다. (alice.noh@dlapiper.com)

Title:  Navigating the Challenges of CFIUS – How Korean Investors Need to Prepare Themselves for US National Security Reviews

(미국 투자 시 고려해야 할 CFIUS 대응방안 – 한국투자자가 미국 국가안보관련 검토를 준비하는데 필요한 사항)

Speaker : Danish Hamid

Synopsis:  The Committee on Foreign Investment in the United States or “CFIUS” as it is commonly referred is the US inter-governmental agency committee responsible for reviewing certain foreign investments in or acquisitions of U.S. businesses (and certain real estate) to determine if they impair U.S. national security. If CFIUS identifies a national security concern, CFIUS will advise the President of the United States, who then has the legal authority to suspend, block, unwind, or force the divestiture of such a transaction. CFIUS raises a number of concerns for both foreign investors/acquirers and US businesses seeking their capital. CFIUS has broad jurisdiction to review foreign investment or acquisition deals even if national security concerns are not readily apparent on the surface. The Foreign Investment Risk Review Modernization Act of 2018 or “FIRRMA” as it is commonly known recently expanded CFIUS’s jurisdiction. CFIUS now has the ability to review certain non-controlling investments as well. This has made the CFIUS process more challenging, especially for foreign-affiliated venture funds that typically invest small amounts in portfolio companies for strategic reasons and gain certain information rights. In addition, FIRRMA authorizes the Department of the Treasury to issue regulations that require parties to submit a mandatory declaration to CFIUS in certain circumstances. So far, the Treasury Department has issued interim regulations that contain a pilot program requiring parties to submit a mandatory declaration in cases involving investments in certain US critical technology companies. However, additional developments are on the horizon. In September 2019, the Treasury Department issued new proposed regulations that will govern CFIUS. The new proposed regulations seek to implement FIRRMA in an even more comprehensive manner.

Key take away:  Join DLA Piper partner, Danish Hamid, for an interactive presentation that will provide you with an overview of CFIUS, key upcoming legal developments, challenges faced by Korean investors seeking to penetrate the US market, and strategies to mitigate risk.