Media Mention

Nova Daly Discusses New CFIUS Law’s Impact on Investments in U.S. Assets

The Deal
August 16, 2018

Nova J. Daly, Senior Public Policy Advisor in Wiley Rein’s International Trade and Privacy & Cybersecurity Practices, was quoted in an August 14 article in The Deal regarding the Foreign Investment Risk Review Modernization Act, which was signed into law this week by President Trump.

The new law empowers the Committee on Foreign Investment in the United States (CFIUS) to review non-controlling foreign investments in U.S. assets that involve critical technologies and infrastructure or access to personal data. This expanded CFIUS authority may limit certain investments into emerging U.S. technologies, such as those arising from Silicon Valley startups.

Mr. Daly, who previously ran the CFIUS process as Deputy Assistant Secretary at the U.S. Department of the Treasury, said examples of acquisitions that will face increased CFIUS scrutiny can be found in China’s Made in 2025 Key Technology Roadmap. These include wireless mobile communications, high-performance computers and servers, biopharmaceuticals, and advanced medical equipment.

In particular, “semiconductor companies are probably going to be broadly off limits to Chinese investments … unless it’s … legacy technology that’s otherwise globally produced,” said Mr. Daly.

He also discussed how the types and structures of deals may evolve under the new law. “You'll see probably a lot more passive investments done through private equity [firms] or hedge funds,” Mr. Daly said.

Read Time: 1 min

Related Professionals

Contact

Sarah Richmond
Director of Communications
202.719.4423
srichmond@wiley.law 

Jump to top of page

Wiley Rein LLP Cookie Preference Center

Your Privacy

When you visit our website, we use cookies on your browser to collect information. The information collected might relate to you, your preferences, or your device, and is mostly used to make the site work as you expect it to and to provide a more personalized web experience. For more information about how we use Cookies, please see our Privacy Policy.

Strictly Necessary Cookies

Always Active

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.

Functional Cookies

Always Active

Some functions of the site require remembering user choices, for example your cookie preference, or keyword search highlighting. These do not store any personal information.

Form Submissions

Always Active

When submitting your data, for example on a contact form or event registration, a cookie might be used to monitor the state of your submission across pages.

Performance Cookies

Performance cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.

Powered by Firmseek