With Treasury’s CFIUS rules in effect, eyes on Commerce definitions

Although the finalized rules governing Treasury Department’s review of foreign investments in U.S. companies went into effect Thursday, ambiguity from the Commerce Department on what biotechnologies could merit mandatory filings means lingering uncertainty for biopharma.

The new rules stem from the National Defense Authorization Act of 2019, which instructed the U.S. Department of Treasury and U.S. Department of Commerce to implement laws that expand government review of inbound investments and outbound exports, respectively (see Figure: “Firrming Up Policy”). ...