President Biden blocked Nippon’s acquisition of U.S. Steel under Section 721 of the Defense Production Act, a law born of opposition to a Japanese investment decades ago. The case offers an opportunity to challenge the President’s Section 721 authority, and limits of judicial review.
MassPoint Principal Hdeel Abdelhady analyzes Nippon Steel and U.S. Steel’s CFIUS challenge in Law360, examining key questions of presidential authority to prohibit foreign investment on national security grounds.
BIS advises financial institutions to guard against EAR violations through: (1) screening against export lists, (2) enhanced due diligence for high-risk transactions, (3) derisking, and (4) reporting and self-disclosing EAR violations. The BIS guidance reiterates FIs’ obligation to file suspicious activity reports (SARs) as directed in three prior FinCEN-BIS alerts.
Hdeel Abdelhady, MassPoint’s principal, will moderate an event on the links between emerging technology, national security, and financial services. The event will explore how national security-based concerns around emerging technologies play out in the financial services space.
Foreign Agents Registration Act Charge Against U.S.-Israel Citizen Highlights FARA-China-Academia Nexuses Introduction The DOJ charged a dual U.S.-Israel citizen with offenses related to…
Hdeel Abdelhady’s recent article on the Strategic Competition Act’s proposed expansion of CFIUS’ jurisdiction to foreign funding of U.S. colleges and universities is available at Law360.
On August 14, President Trump ordered ByteDance to divest its assets and interests in TikTok. What happens if ByteDance does not comply? The question may seem academic, given historical compliance with divestment orders and ByteDance’s talks with U.S. companies about TikTok’s sale. But a recent legal move by China—its expansion of a list of technologies that require government approval for export, including apparently in a sale of TikTok—renders real the issue of non-compliance with the August 14 divestment order, and potentially raises unprecedented issues.
U.S. Controls Over Foreign Access to and Influence on Technology and Research in 2020: A Quick Guide U.S. companies, academic and research institutions,…