Timothy O'Toole was quoted on the high degree of regulatory risk for U.S. companies considering the acquisition of TikTok from its parent company, ByteDance. "It’s happening so fast," O’Toole said, explaining that at the very least, restrictions would be necessary for the handover of software and data. Additionally, if there’s an ongoing business relationship between the U.S.- and China-based TikToks, "you would need a mitigation plan in place for that," he added.