Both the United States and the United Kingdom have taken significant steps to regulate foreign investment in, and acquisitions of, domestic businesses and assets to protect their national security.

In 2018, the US government significantly expanded the powers of its Committee on Foreign Investment in the United States (CFIUS) to review foreign investment in US businesses. The expanded authority makes it imperative for US businesses seeking foreign investment or acquisitions to take a proactive approach towards compliance, particularly where such businesses deal with critical technology, critical infrastructure or sensitive personal data. In the UK, the National Security and Investment Act 2021 (NSIA), which came into force on 4 January 2022, provides for a new regime to scrutinise and intervene in acquisitions and investments made by, and in, UK-based entities or assets in order to protect national security, much like CFIUS does in the US.

On 27 January 2022, Marta Isabel Garcia and Will Spens co-hosted a webinar with US-based Fox Rothschild attorneys Nevena Simidjiyska and Elizabeth Hodgson to discuss the main considerations arising from the NSIA and CFIUS. The panelists answered many common questions, including:

What are the similarities and differences between CFIUS and the NSIA?
What transactions are covered under each?
Which industries are most at risk?
What are some practical implications for deal structuring?
How should companies comply with the new requirements?

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