Standards

CFIUS reform moves ahead

The US Senate committee on banking has passed a bill to reform the Committee on Foreign Investment in the US (CFIUS), the body that vets foreign deals on national security grounds.

The bill contains provisions that will allow for a 30-day review of proposed deals under examination by the CFIUS, and strengthen the director of national intelligence’s role in the process.

Senator Chris Dodd, chairman of the committee, said he believed the bill provides a balance between welcoming foreign investment and providing greater security for the US. While providing for careful inspection, he said, the bill does this through timely and clear procedures so as not to discourage investors.

June 2007