Treasury Proposes Changes to the Regulations Governing Exon-Florio "National Security" Reviews of Foreign Investments in the United States
The Foreign Investment and National Security Act of 2007 ("FINSA
") amended the existing legislation dealing with national security reviews of foreign investment in the United States, commonly known as Exon-Florio. On April 21, 2008, the U.S. Department of the Treasury proposed new regulations to implement FINSA that include significant changes to the current review process, but do not expand the scope of reviews to the extent many predicted.
This article, co-authored by Cleary Gottlieb partner Paul D. Marquardt
, counsel W. Richard Bidstrup
and associate Nathaniel F. Stankard, appears in the June 2008 issue of Cleary Gottlieb’s M&A and Corporate Governance Report