On April 11, 2024, the US Treasury Department proposed to expand the enforcement and transaction review authorities of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”). In a press release and accompanying Notice of Proposed Rulemaking, the Treasury Department proposed rules that would: (i) substantially increase the financial penalty amounts that CFIUS may impose for violations of its rules, procedures or mitigation agreement terms; (ii) expand the Committee’s subpoena authority and ability to seek information from non-transaction parties; and (iii) establish tight timelines for transaction parties to respond to proposed mitigation terms.
