Treasury touts CFIUS reform pilot program under FIRRMA

The Treasury Department on Wednesday moved forward with the implementation of the Foreign Investment Risk Review Modernization Act, announcing a pilot program under the law that would expand the ambit of the Committee on Foreign Investment in the United States. “We are pleased to implement this first step of the important and bipartisan FIRRMA legislation,” Treasury Secretary Steven Mnuchin, who chairs CFIUS, said in a statement. “These temporary regulations address specific risks to U.S. critical technology while informing the development...