Navigating CFIUS, DSS and ITAR Reviews: Recent Developments, Best Practices and Common Pitfalls

Please join Holland & Knight's Government Contracts Group for "Navigating CFIUS, DSS and ITAR Reviews: Recent Developments, Best Practices and Common Pitfalls."

Whether it's a merger, acquisition or a minority investment, government contractors must be aware of the additional due diligence and regulatory reviews required when dealing with foreign investors. Our in-depth presentation will provide an overview and analysis of the roles that the Committee on Foreign Investment in the United States (CFIUS), the Defense Security Service (DSS) and the Directorate of Defense Trade Controls (DDTC) play regarding transactions involving foreign investments.

We will discuss the best practices and common pitfalls of national security reviews, which are usually performed by the three agencies in parallel, as well as several recent CFIUS developments, including the new CFIUS pilot program that targets specific industries – often the realm of government contractors.

• CFIUS national security reviews, DSS Foreign Ownership, Control or Influence (FOCI) mitigation plans, and the Mergers and Divestitures (MAD) filings under the International Traffic in Arms Regulations (ITAR)
• An update on the Foreign Investment Risk Review Modernization Act (FIRRMA), which significantly expands CFIUS' powers in reviewing cross-border transactions
• The interaction and coordination of the three agencies as each uses its own test of "foreign control" and has its own filing requirements
• How to budget for these filings during the regular due diligence of an M&A or an investment transaction
• Best practices for a successful foreign investment transaction

Presenters:

Mary Beth Bosco  |  Partner, Washington, D.C.
Antonia I. Tzinova  |  Partner, Washington, D.C.
Andrew McAllister  |  Associate, Washington, D.C.