The 2018 Foreign Investment Risk Review Modernization Act, or FIRRMA, aimed to address that by boosting CFIUS’s funding and powers. The committee is mostly inquiring about Chinese investment, but on a few occasions has asked about Russian investors. ADCFIUS, an interagency committee chaired by the Treasury Department, has several powers to influence foreign investments it sees as risky. But there is in theory no time limitation, and we are increasingly hearing about long reach-back periods.”CFIUS’s scrutiny of TikTok shows how a foreign investment can raise alarms years after the fact. In August, the Treasury Department said CFIUS had advised President Trump to order ByteDance to divest its U.S. business.

Source: Washington Post September 29, 2020 19:13 UTC