WASHINGTON (Reuters) - As of November 10, investors in 27 industries will come under tougher scrutiny as an inter-agency panel led by the U.S. Treasury Department begins tightening foreign investment rules as part of a pilot program, according to a senior treasury official.
The panel, called Committee on Foreign Investment in the United States (CFIUS), reviews mergers and stock purchases to ensure that they do not harm national security. It was strengthened by legislation in the National Defense Authorization Act and signed into law in August.
Investments in 27 industries, such as telecommunications and semiconductors, will be required to be reported to CFIUS if the foreign investor’s role would allow access to non-public information or afford the power to nominate a board member or make other substantial decisions, the official said.
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