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Jonathan Wakely advises clients on a range of significant international trade, national security, and public policy matters. Mr. Wakely joined the firm after serving as a political analyst with the Central Intelligence Agency, where he provided strategic analysis to the President and other senior policymakers.
Drawing on his government experience, Mr. Wakely represents clients worldwide seeking national security approval for foreign investments before the Committee on Foreign Investment in the United States (CFIUS) and clients seeking to mitigate foreign ownership, control, or influence (FOCI) under national industrial security regulations. His experience includes negotiating and advising companies on compliance with several of the most significant, complex and sensitive national security agreements with the U.S. government in recent years. Mr. Wakely also advises companies on U.S. economic sanctions and export control regulations administered by the Treasury Department’s Office of Foreign Assets Control (OFAC), State Department’s Directorate of Defense Trade Controls (DDTC), and the Commerce Department’s Bureau of Industry and Security (BIS).
In the public policy area, Mr. Wakely advises clients on matters involving international trade, cross-border investment, and national security. He has represented private companies and sovereign states before Congress and the executive branch, including by designing and executing government relations campaigns to achieve policy, regulatory, and legislative goals.
CFIUS and National Security
- Lenovo Group Limited - Acquisition of IBM’s x86 server division for $2.1 billion.
- Nexen Inc. - $15.1 billion acquisition by CNOOC Ltd.
- BAE Systems Inc. - Multiple acquisitions.
- Borealis Infrastructure Management - Multiple acquisitions in the energy sector.
- Abu Dhabi National Energy Company PJSC (“TAQA”) - Successful acquisition in the energy sector.
- Check Point Software Technologies - Multiple acquisitions.
- Advised a global oil and gas company on compliance with U.S. export control and sanctions regulations
- Conducted an internal investigation of suspected violations of U.S. export control laws for a multinational technology company.
Trade and Public Policy
- Secured the reinstatement of a respected professor’s H-1B visa improperly revoked on national security grounds.
- Advised a security-focused technology company on growing U.S. government business.
- Represented a foreign embassy in a campaign to secure professional visa legislation as part of the implementation of a free trade agreement.
- Advised a major U.S. airline on developing and executing a government relations campaign to address issues related to free and fair competition with foreign airlines.
- Representing American investors in Yukos Oil Company seeking compensation for the expropriation of approximately $12 billion in assets by the Russian Federation.
- Advised a multinational oil & gas company on disputes with foreign government agencies arising from an investment in Central Asia.
Pro Bono
- Represented the Brady Center to Prevent Gun Violence in a successful constitutional challenge to the Nelson, Georgia “Family Protection Ordinance,” which required residents to keep and maintain a firearm.
- Successfully represented an Iraq War veteran in obtaining Combat-Related Service pay.
Previous Experience
- Central Intelligence Agency, Political Analyst (2006-2012)
Newly-Released CFIUS Annual Report for 2015 Foreshadows Heightened Scrutiny of Foreign Investment
September 21, 2017, Covington Alert
The Committee on Foreign Investment in the United States (“CFIUS”) this week released its long-awaited Annual Report to Congress regarding foreign acquisitions of U.S. businesses reviewed by CFIUS in 2015. The report provides important data that yields insights into the types of transactions the Committee reviewed and the Committee’s treatment of those ...
September 14, 2017, Covington Alert
We are writing to provide our perspective on two significant developments involving the Committee on Foreign Investment in the United States (“CFIUS”).
June 23, 2017, Covington Alert
We are writing to provide our perspective on recent developments regarding the Committee on Foreign Investment in the United States (“CFIUS”), including the plans of Senator John Cornyn (R-TX) to introduce significant legislation to reform CFIUS, and the operation of CFIUS in the first six months of the administration of President Donald Trump.
Presidential Report Recommends U.S. Action to Counter Chinese Policies in the Semiconductor Industry
January 11, 2017, Covington Alert
Late last week, a group of technology industry leaders, researchers, and former policymakers comprising the President’s Council on Science and Technology (“PCAST”) issued a report entitled Ensuring Long-Term U.S. Leadership in Semiconductors. The report concludes that China is seeking to reshape the global semiconductor industry in a manner that threatens U.S. leadership in that sector. Given the criticality of the semiconductor industry to U.S. national security, the report recommends a three-part strategy to (1) counter Chinese policy actions, (2) improve the business environment for U.S. semiconductor companies, and (3) help “catalyze transformative semiconductor innovation over the next decade.”
December 5, 2016, Covington Alert
Acting on the recommendation of the Committee on Foreign Investment in the United States (“CFIUS”), President Barack Obama issued an Executive Order on Friday, December 2, prohibiting the acquisition of the U.S. business of Aixtron SE (“Aixtron”) by a company ultimately owned by investors in China. This is the first time that a President formally has utilized the authority of the CFIUS statute to block a foreign acquisition prior to consummation of the transaction.
Preventing Deglobalization: An Economic and Security Argument for Free Trade and Investment in ICT
September 2, 2016, U.S. Chamber of Commerce
National Security and Foreign Direct Investment: Recent Developments in Legal Authorities
October 22, 2015, ABA Section of International Law 2015 Fall Conference
September 17, 2015
SHANGHAI, September 17, 2015—China Law & Practice named Covington "International Firm of the Year - Life Sciences" at its annual awards ceremony. The leading Chinese legal publication also named Hui Xu a "Rising Star" in regulatory and compliance law and recognized the firm for its role in its "Deal of the Year," Lenovo’s acquisition of IBM's server ...
2015, International Lawyer
President Obama Announces Executive Action on Immigration, while Congress Considers its Response
November 21, 2014, Global Policy Watch
In remarks last night, President Obama announced his long-planned executive actions to reform the U.S. immigration system. The President will sign the first of such orders today, despite intense opposition from Republicans in Congress, who believe that the President’s actions are outside the law and contrary to Congress’s authority to legislate federal ...
September 17, 2014, Cov Africa
By any measure Ethiopia is experiencing impressive economic growth. According to IMF data, GDP grew 8.7 percent in 2012, the country’s weakest year since 2009. In 2010, GDP grew a blistering 12.6 percent, higher than all but a handful of countries worldwide. Going forward, the IMF estimates Ethiopia’s economy will grow at 8.0 to 8.5...… Continue Reading
Covington Secures CFIUS Approval for Lenovo Acquisition
August 22, 2014
WASHINGTON, DC, August 22, 2014 — The Committee on Foreign Investment in the United States (CFIUS) has cleared Lenovo Group’s bid to acquire International Business Machines’ x86-based server business in a $2.3 billion acquisition. Covington & Burling represented Lenovo in securing CFIUS approval. David Fagan, Mark Plotkin, Stuart Eizenstat and Jonathan Wakely ...
July 21, 2014, Global Policy Watch
On July 14, the U.S. Court of Appeals for the District of Columbia Circuit decided Ralls Corporation v. Committee on Foreign Investment in the United States — the first ruling by a federal circuit court on a CFIUS case. Ralls, a U.S. company owned by two Chinese nationals, sued CFIUS in connection with an order by...… Continue Reading
July 18, 2014, Covington E-Alert
June 23, 2014, Cov Africa
Later this summer the first ever African Leader’s Summit will bring heads of state from across the continent to Washington DC to discuss a range of trade and investment matters. A recent study on the attitudes of multinational corporations toward investment in Africa suggests that the leaders looking to attract investors will receive a warm...… Continue Reading
May 14, 2014, Inside Energy & Environment
Last week the U.S. House of Representatives passed the Electrify Africa Act of 2014, confirming the existence of a broad, bi-partisan consensus in favor of supporting U.S. direct investment in Africa’s energy sector. The bill, which now heads to the Senate, seeks to establish a “comprehensive United States Government policy to encourage the efforts of...… ...
May 14, 2014, Cov Africa
Last week the U.S. House of Representatives passed the Electrify Africa Act of 2014, confirming the existence of a broad, bi-partisan consensus in favor of supporting U.S. direct investment in Africa’s energy sector. The bill, which now heads to the Senate, seeks to establish a “comprehensive United States Government policy to encourage the efforts of...… ...
March 26, 2014, Cov Africa
Earlier this year, the Senate passed a resolution endorsing and supporting efforts by the Obama Administration to improve maritime security in the Gulf of Guinea. The resolution could not be more timely, as pirate attacks off the coast of West Africa have increased in the first first months of 2014, prompting the International Chamber of Commerce’s ...
December 20, 2013, Covington E-Alert
October 25, 2013, Covington Advisory
U.S. Chamber Releases Covington Co-Authored Report on Chinese Opportunities in U.S. Infrastructure Sector
October 24, 2013
WASHINGTON, DC, October 24, 2013 — The U.S. Chamber of Commerce yesterday released a significant report, co-authored by Covington & Burling, assessing the opportunities for Chinese participation in the U.S. infrastructure sector. The other co-authors were the economic research and advisory firm The Rhodium Group and the strategic advisory firm Sphere Consulting. ...
July 2013, Global Trade & Customs Journal
2/13/2013
WASHINGTON, DC, February 13, 2013 — The Committee on Foreign Investment in the United States (CFIUS) on Tuesday approved CNOOC Ltd.’s bid to acquire the U.S. assets of Canadian energy company Nexen Inc. It was the final regulatory hurdle in the $15.1 billion acquisition, the largest overseas investment ever by a Chinese company. Covington & Burling represented ...