On October 22, 2026, the U.S. Department of the Treasury released a notice of proposed rulemaking (NPRM) to implement the Comprehensive Outbound Investment National Security (COINS) Act, which prohibits or requires notification for certain transactions involving sensitive technologies and “countries of concern.”
While the Treasury Department’s Outbound Investment Security Program (OISP) already regulated certain China-linked investment transactions in the quantum computing, semiconductor, and AI sectors, the proposed rule would implement the COINS Act’s extension to hypersonic systems and high-performance computing and supercomputing. It would also add biotechnology as a covered sector for the first time. The NPRM adds Cuba, Iran, North Korea, Russia, and Venezuela to the list of countries of concern, expanding the scope of the rule beyond China. The implications will extend beyond traditional equity investments to joint ventures and other transaction structures, as well as the ability of companies and their subsidiaries to establish and expand operations in China.
In this timely webinar, Covington lawyers will analyze the NPRM and its implications for affected industries. We will examine how the new framework could affect cross-border investment; licensing and transaction structures; regulatory diligence, compliance, and documentation requirements; product development and commercialization strategies; and the potential for reciprocal measures in China and other jurisdictions. We will also discuss practical considerations for companies evaluating current and prospective cross-border transactions in light of the evolving U.S. outbound investment framework.
For your convenience, this webinar will be offered twice. Please select the session you'd like to attend when registering.
Tuesday, October 27, 2026
10:30 - 11:30 a.m. ET
Wednesday, October 28, 2026
3:00 - 4:00 p.m. ET
This event is closed to the press and to professionals from other law firms.
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