Trump signs expanded CFIUS jurisdiction into law

President Donald Trump signed into law Monday the Foreign Investment Risk Review Modernization Act (FIRRMA), which expands the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS) to cover "foundational and emerging technologies." The broad language in the legislation could open up the range of biotech inventions that could be scrutinized by CFIUS.

CFIUS may also recommend technologies for the review process and set reporting requirements on these recommendations under the new law. FIRRMA’s predecessor, the Foreign Investment and National Security Act of 2007, limited CFIUS's jurisdiction to “critical technologies.”...