Posts Categorized: Investment in United States

SEC Settles SPAC Enforcement Action

On July 13, 2021, the Securities and Exchange Commission (the “SEC”) announced settlement of enforcement actions aganist a Special Purpose Acquisition Corporation (the “SPAC”), entitled Stable Road Acquisition Company, its sponsor, its CEO, its merger target, entitled Momentus Inc. (“Momentus”) and the founder and the former CEO of Momentus. SPACS have become increasingly popular in… Read more »

Holding Foreign Companies Accountable Act Becomes Law

On December 18, 2020, the Holding Foreign Companies Accountable Act (the “HFCAA”) was signed into law and the Securities and Exchange Commission (the “SEC”) was advised to adjust its rule proposal to take into account the new legislation. Under the legislation, a reporting company that uses an auditor in a jurisdiction that restricts or controls… Read more »

New Committee on Foreign Investment in the United States (“CFIUS”) Rules to Go Into Effect

On February 13, 2020, new CFIUS rules are scheduled to go into effect. The new rules have been adopted by the Treasury Department under the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) which increases the CFIUS authority to review and disallow investment in U.S. sensitive companies.  The rules also resulted in the exemption… Read more »

CFIUS Update Passed by Congress

On August 1, 2018, the U.S. Senate passed the Foreign Investment Risk Review Modernization Act (“FIRRMA”) as part of the Defense Authorization Bill (Title XVII).  FIRRMA changes and updates the law setting up the Committee on Foreign Investment in the United States (“CFIUS”), which allowed CFIUS to review certain acquisitions by and mergers with foreign… Read more »