The global landscape for national security/ FDI reviews of cross-border transactions is changing dramatically.
In the United States, the Biden Administration has—for the first time ever—published expanded national security risk factors for sharpened focus in CFIUS reviews, issued CFIUS enforcement and penalty guidelines signaling strengthened compliance efforts, indicated its intent to pursue screening of outbound investments, and complemented investment screening with strategic use of export controls.
The EU continues to experience an explosion of new FDI regimes and the strengthening of existing FDI regimes at the EU Member State level with no one-stop shop procedure available, so that cross-border transactions often require several FDI filings in the EU.
In the UK, a new investment screening law has extensively revised the investment review process and significantly broadened the scope of M&A transactions subject to national security review.
FDI regulation has not just changed on paper—global jurisdictions have fundamentally shifted their policies toward the FDI screening and review process. From the relationship between the United States and China and the “tech wars” to the EU’s desire for energy independence, and general trends towards deglobalization and on-shoring of supply chains—all trends point toward greater national security scrutiny of cross-border M&A transactions.
How can Japanese companies successfully navigate FDI issues in 2023 and beyond? Our experts will take you through the above FDI trends and developments (and more), and provide their insights on where we are going next.
Brandon Van Grack, co-chair of MoFo’s National Security and Global Risk + Crisis Management practice groups, former senior Department of Justice official who oversaw CFIUS reviews.
Charles Capito, partner in MoFo’s National Security and Government Contracts + Public Procurement groups.
Joseph Benkert, senior advisor in MoFo’s National Security group, former Assistant Secretary of Defense for Global Security Affairs in the Department of Defense who oversaw CFIUS reviews.
Nicholas Spiliotes, co-chair of MoFo’s National Security practice group, former member of the National Security Council at the White House, former Special Assistant in the U.S. Foreign Service in the Office of the U.S. Representative to the United Nations.
EU & United Kingdom:
Felix Helmstädter, partner in MoFo’s global National Security, Sanctions and Export Control, and Government Contracts practice groups.
Marie-Claire Strawbridge, partner in MoFo’s Antitrust/ Competition and National Security practice groups.
Nozomi Oda, M&A partner, co-head of MoFo’s Asia Private Equity practice group.
Fumihiko Hori, of counsel in MoFo’s National Security, M&A, and Technology Transactions practice groups, formerly at the Ministry of Economy, Trade, and Industry of Japan (METI).
Jeremy White(Moderator), M&A partner
Stan Yukevich(Moderator), M&A partner
We hope you will join us for what will be a timely and insightful discussion. We welcome and encourage your questions both in advance and during the presentation.