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CFIUS Developments House and Senate Committees Hold Markup of CFIUS

May 23, 2018, Covington Alert

On Tuesday, May 22, 2018, the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services each held a markup of the Foreign Investment Risk Review Modernization Act (“FIRRMA”), a bill introduced by Senator John Cornyn (R-TX) in the Senate and Congressman Robert Pittenger (R-NC) in the House to reform CFIUS. A number of important changes were made to the bills in advance of and during the markup process. FIRRMA unanimously reported out of both committees, reflecting the strong bipartisan support for CFIUS reform.

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