Implementation of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA)
|Thomas Feddo, Assistant Secretary for Investment Security, Department of the Treasury|
|David Eisner, Assistant Secretary for Management, Department of the Treasury|
Goal Statement: Successful implementation of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) will ensure that identified national security risks arising from certain foreign investments—including from some types of investments and transactions that previously fell outside of Committee on Foreign Investment in the United States’ (CFIUS) jurisdiction—are addressed in an effective manner. By September 30, 2021, the Department of the Treasury, as Chair of the CFIUS program, will implement key elements of FIRRMA, including:
- Publishing final FIRRMA regulations, including filing fees, by February 2020.
- Completing Phase 1 of work space construction to enhance operational security by June 2020.
- Implementing a new information technology infrastructure and electronic case management system by September 2020.
- Implementing and managing processes to monitor a significantly increased caseload.
Goal Action Plans & Progress UpdatesComing soon.