Paul Rosen, former assistant secretary for investment security at the Treasury Department, has joined Latham & Watkins as a partner in the Committee on Foreign Investment in the U.S. and national security practice, the firm announced. At Treasury, Rosen oversaw CFIUS and its investment screening and enforcement activities.
Japan-based Nippon Steel Corp. and U.S. Steel Corp. asked a federal court Jan. 6 to set aside the Biden administration’s “illegal and improper” decision to block Nippon Steel’s acquisition of the American firm. Their lawsuit also urges the U.S. Court of Appeals for the District of Columbia Circuit to order the Committee on Foreign Investment in the U.S. to conduct a new review of the proposed $14.9 billion transaction.
The chair and ranking member of the House Select Committee on China, along with a bipartisan group of 53 representatives, filed an amicus brief last week in the suit against the TikTok ban to support the constitutionality of the ban (see 2406070023) (TikTok v. Merrick Garland, D.C. Cir. # 24-1113).
A new rule that would impose a three-day deadline for certain responses to the Committee on Foreign Investment in the U.S. was unanimously criticized by several law firms, an industry group and the Chinese government, which said such a time frame doesn’t take into account the complex, time-consuming discussions companies must have when dealing with CFIUS. Some commenters also asked the committee to nix a proposed change that would raise the maximum penalty for violations from $250,000 per violation to $5 million, saying most violations are accidental, and the increase could rattle the “confidence” of foreign investors.
Alexis Early, former partner at King & Spalding, has joined Jenner & Block as a partner in the Washington-based national security and crisis practice. Early's practice focuses on sanctions, trade and export controls, anti-money laundering, the Committee on Foreign Investment in the United States and more, the firm said.
Bridget McGovern, former assistant secretary for trade and economic security at DHS, joined Squire Patton as a partner in the public policy practice, the firm announced. McGovern will focus on national security and trade issues, including reviews by the Committee on Foreign Investment in the U.S. She worked for over two years at DHS, where she served as an agency representative to CFIUS and helped implement the Uyghur Forced Labor Prevention Act Entity List.
Trade Law Daily is providing readers with the top stories from last week, in case you missed them. All articles can be found by searching on the title or by clicking on the hyperlinked reference number.
Trade Law Daily is providing readers with the top stories from last week, in case you missed them. All articles can be found by searching on the title or by clicking on the hyperlinked reference number.
Andrew Astuno, a former Treasury Department official who worked on the Committee on Foreign Investment in the U.S., has joined Clifford Chance as a CFIUS lawyer, he announced this week on LinkedIn. Astuno was a policy adviser with Treasury’s Office of Investment Security before leaving in early 2022 to join Stroock & Stroock.
Trade Law Daily is providing readers with the top stories from last week in case you missed them. All articles can be found by searching on the title or by clicking on the hyperlinked reference number.