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New CFIUS Law: Key Issues Affecting the Energy Sector

Expanded Review of Foreign Investments Involving Critical Infrastructure, New Covered Transactions

Recording of a 90-minute premium CLE webinar with Q&A

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Conducted on Thursday, December 6, 2018

Recorded event now available

or call 1-800-926-7926

This CLE course will guide counsel to U.S. businesses in the energy industry accepting foreign investments and examine the Foreign Investment Risk Review Modernization Act (FIRRMA). The panel will discuss the new covered transactions that could be subject to the Committee on Foreign Investment in the United States (CFIUS) review, including the recently announced CFIUS pilot program. The panel will offer best practices for companies navigating the CFIUS process in light of recent developments.

Description

The FIRRMA, signed into law in Aug. 2018, expands the scope of foreign investment transactions that the Committee on CFIUS may review and imposes mandatory reporting requirements. Under FIRRMA, a wide range of foreign investments affecting the U.S. energy industry will be subject to federal scrutiny.

The new types of covered transactions are likely to impact the energy sector. Under the new law, the CFIUS is permitted to review noncontrolling investments in U.S. businesses involving critical infrastructure, which will affect domestic energy infrastructure investment. Other changes under the new law include review of purchases, leases, concession of U.S. real estate, and jurisdiction when there is a change in a foreign person’s rights if it could lead to foreign control or a noncontrolling investment.

Counsel to energy companies and investors must understand the CFIUS risk involved and be prepared to navigate through the CFIUS reforms. While one investment in the energy sector may not appear to impact national security, CFIUS could block or apply mitigation measures if overall foreign ownership would present a national security concern.

Listen as our authoritative panel examines the new CFIUS reforms and the implications for the energy industry. The panel will discuss new CFIUS authority under FIRRMA. The panel will also address changes related to critical infrastructure, jurisdiction over the change in a foreign person’s rights concerning a U.S. business, and other new types of covered transactions.

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Outline

  1. CFIUS background
  2. FIRRMA overview
  3. Implications for energy sector
    1. Expanded jurisdiction
    2. Mandatory reporting
    3. Updated timeline
    4. Other changes
  4. CFIUS pilot program
  5. Best practices for navigating CFIUS
  6. Takeaways

Benefits

The panel will review these and other relevant issues:

  • What steps should counsel and energy companies take to comply with the regulations and address potential issues when considering foreign investment opportunities or working with foreign investors?
  • What changes under FIRMMA will have the most impact on the energy industry?
  • How has the new law changed noncontrolling investments involving domestic energy infrastructure?

Faculty

Davis, Christian
Christian C. Davis
Partner
Akin Gump Strauss Hauer & Feld

Mr. Davis’ practice focuses on U.S. law and policy affecting international trade and business. He advises clients...  |  Read More

Wolf, Kevin
Kevin J. Wolf
Partner
Akin Gump Strauss Hauer & Feld

Mr. Wolf is a partner in the international trade practice. His experience encompasses the laws, regulations, policies...  |  Read More

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