Dealmakers, Take Note: GAO to Study CFIUS at Congress' Urging

On October 3, 2016, the U.S. Government Accountability Office (“GAO”) announced that it would undertake an assessment of the Committee on Foreign Investment in the United States (“CFIUS”) review process to evaluate “how the current statutory and administrative authorities of the Committee on Foreign Investment in the United States have kept pace with the growing scope of foreign acquisitions in important economic sectors in the United States.” The GAO’s statement responds to a September 15 letter from 16 Members of Congress calling on the GAO to examine the advisability of identified enhancements to CFIUS’ authority and jurisdictional ambit.