The Committee on Foreign Investment in the United States reviewed a total of 440 filings in 2022, compared with 436 in 2021. The Department of the Treasury, in a report it issued as CFIUS chair, said the record number of filings was based on the expanded export controls under FIRRMA, mandatory filings in some cases and updated processes to identify non-notified transactions.
A majority of filings, estimated at 58 percent for the 2022 calendar year, were cleared within the set assessment period of 45 days for notices and 30 days for declarations, CFIUS said in the annual report it submitted to Congress.
The committee sharpened its focus on non-notified foreign investment transactions to detect, assess and mitigate or resolve national security risks, according to the report.
“We sharpened due diligence on investors, tackled sophisticated technologies and national security risks, and launched a number of reviews to assess potential non-compliance with CFIUS regulations,” Paul Rosen, the committee’s assistant secretary for investment security, said Monday.
According to Rosen, among the notable developments include New Zealand joining Australia and Canada on the “excepted foreign state” list in January 2022 and Treasury holding the first-ever CFIUS conference in June 2022 to discuss topics such as the committee’s processes and risk analyses.
