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Treasury proposes FIRRMA regs
The Treasury Department announced yesterday it has issued two proposed regulations to comprehensively implement the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) and to better address national security concerns arising from certain investments and real estate transactions. The regulations strengthen and modernize the Committee on Foreign Investment in the United States (CFIUS), an interagency committee authorized to review certain transactions involving foreign investment in the United to determine the effect of such transactions on the national security of the United States.
- Proposed regulation: Provisions Pertaining to Certain Investments in the United States by Foreign Persons (31 C.F.R. part 800)
- Proposed regulation: Provisions Pertaining to Certain Transactions by Foreign Persons Involving Real Estate in the United States (31 C.F.R. part 802)
- Fact Sheet on proposed regulations
- FAQs on proposed regulations
Comments on the proposed rules will be accepted through October 17, 2019. Treasury intends to issue final rules to take effect no later than February 13, 2020.