Letters

Mergers, Acquisitions, and Takeovers by Foreign Persons

Summary

SIFMA provides comments to the U.S. Department of Treasury on proposed regulations pertaining to mergers, acquisitions, and takeovers by foreign persons, RIN 1505-AB88.  The proposed regulations would implement amendments made by the Foreign Investment and National Security Act of 2007.  The proposed regulations formally establish the structure, role, process, and responsibilities of the Committee on Foreign Investment in the United States (CFIUS) in reviewing transactions for national security concerns.  SIFMA generally supports the proposed regulations, but offers technical comments on the provisions regarding pre-notice consultation, minority shareholder protections, lending transactions, personal identifier information required, and the two business day deadline for providing follow-up information.

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