Brian Fleming Comments on Proposed CFIUS Regulations in Law360
"What Attorneys Must Know About the Draft CFIUS Rules"
Brian Fleming commented on proposed regulations released by the U.S. Department of the Treasury, which aim to implement the Foreign Investment Risk Review Modernization Act (FIRRMA) and will significantly overhaul the Committee on Foreign Investment in the United States (CFIUS). The draft regulations include an attempt to clarify what types of sensitive personal data collected by U.S. companies may trigger CFIUS jurisdiction. Responding to the fact that the regulations set a threshold of collecting or maintaining data on 1 million or more individuals, Fleming said, "It sounds big in theory, but in practice, it's not all that high of a threshold."