Biden signs order creating targeted outbound investment regime

President Biden on Wednesday signed a much-anticipated executive order that will, when implemented, create a mechanism to restrict outbound investment to the semiconductor, quantum information technologies and artificial intelligence sectors while also requiring notifications for other types of investments into foreign markets. The order was accompanied by an advance notice of proposed rulemaking issued by the Treasury Department outlining the new outbound investment regime. The new rules will not go into effect until the administration has taken into account stakeholder...