(L-R, John P. Carlin and John E. Smith)
On October 4 2018, Morrison & Foerster hosted a seminar at the Shin Marunouchi Building in Tokyo entitled: Foreign Business and Investment in the Age of Trump – Major Developments in the U.S. Regulatory Landscape. MoFo speakers below presented on major developments in U.S. law and regulation of matters impacting national security, including the Committee on Foreign Investment in the U.S. (CFIUS), export controls and sanctions, with the U.S. government poised to make further changes in the coming months.
Our experts explained these developments and their significance for over 60 attendees from leading Japanese companies and entities, from wide-ranging industries including financial, telecommunications, technology and life sciences; offering guidance on how Japanese companies can successfully navigate the changed U.S. regulatory framework in pursuing their global business objectives, including transactions in the U.S.
Amongst various topics, they looked closely at the Foreign Investment Review Risk Modernization Act of 2018 (“FIRRMA”) signed into law by President Trump on August 13. One significant development looked at under FIRRMA, is that CFIUS now has jurisdiction over any foreign investment in U.S. businesses engaged in critical infrastructure, critical technologies, or the collection of sensitive data.
Other topics covered were Iran and Russia sanctions. In connection with Iran, President Trump signed an executive order to re-impose sweeping sanctions on Iran. Among other results, these “snap back” sanctions cover Japanese companies and other non-U.S. parties that engage in business with Iranian parties.
With regards to Russia, topics covered included the U.S. Treasury‘s actions in connection with sanctions measures currently impacting worldwide aluminum markets, and the U.S. Congress’ continuing debate of multiple other sanctions bills targeting Russia that would significantly impact global trade with Russia.
John E. Smith, Partner, Washington, D.C.
John P. Carlin, Partner, Washington, D.C./New York
Nicholas J. Spiliotes, Partner, Washington, D.C.
Stan Yukevich, Partner, Tokyo (introductory remarks)