Recently by Russell L. Smith
Regulatory & Compliance
Treasury Department Issues Revised Rules For Reporting Foreign Financial Accounts HIRE Act Requires Reporting on the Federal Income Tax Return of Certain Foreign Financial Assets
The U.S. Financial Crimes Enforcement Network ("FinCEN"), a bureau of the U.S. Department of the Treasury (the "Treasury Department"), issued final regulations in February 2011 to clarify the requirement that certain U.S. persons annually report foreign bank and other...
Read MoreFor Foreign Investors, Expert Navigation Through The CFIUSProcess
Editor:Please provide our readers with background on the Exon-Florio law passed in 1988, which gives the President authority under the Committee on Foreign Investment in the United States (CFIUS) to rule on foreign investment in U.S companies that might constitute a national security risk. Who are...
Read MoreProposed Regulations Clarify And Expand U.S. Government Foreign Direct Investment Reviews
On April 23, 2008, the Treasury Department, the agency chairing the Committee on Foreign Investment in the United States ("CFIUS"), proposed regulations to implement the Foreign Investment and National Security Act of 2007 ("FINSA"). FINSA amended the U.S. law that authorizes the President to...
Read MoreWall Street Meets Main Street Congress Examines The Economic And Social Effects Of Private Equity Transactions
Introduction Hardly a day passes when a story does not appear about the growth of private equity investing in the United States. Early in May of this year, newspapers were filled with reports of a major private equity firm's bid to buy 80% of the Chrysler Group for $7.4 billion. The Chrysler...
Read MoreCNOOC And U.S. Foreign Investment Rules: Today's "Screen" May Be Tomorrow's "Wall"
The recent effort by the China National Overseas Oil Company (CNOOC) to acquire the U.S. oil company Unocal unleashed what can only be described as a firestorm of opposition. The motivations for that opposition were mixed, and included pure political efforts to "kill" the CNOOC bid, a hostile...
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