Day 1 - Tuesday, April 20, 2021

9:45
Opening Remarks from the Co-Chairs
10:00
Keynote Address: U.S. Department of Treasury
10:30
A 360 Degree View of Today’s CFIUS Landscape 1 Year Post-FIRRMA Implementation
11:45
Morning Break
12:00
Interactive Think-Tank with CFIUS Alumni: Addressing FIRRMA Pressure Points and Challenges
12:45
Examining New Rules on CFIUS Mandatory Filings: Implications for Critical Technology Investments and the Interplay with Recently Issued Export Control Reform
1:45
1:1 Networking Opportunities
2:00
Lunch Break
2:30
Updating Your Mitigation Approach to New and Evolving CFIUS Requirements and Trends: Overcoming the Top 5 Mistakes Companies Make in CFIUS Mitigation Planning, Design and Implementation
3:30
Spotlight Interview
4:00
Afternoon Break
4:15
How to Effectively Respond to the Recent Uptick in Enforcement and the Rise of Investigations of “Non-Notified” Transactions
5:30
Key Takeaways from the New CFIUS Declaration Process
6:30
Conference Adjourns

Day 2 - Wednesday, April 21, 2021

9:45
Co-Chairs’ Welcome Back and Recap of Day 1
10:00
Keynote Interview
10:30
How CFIUS’ Expanded Jurisdiction Over Sensitive Data is Affecting Deal Reviews, Deal Flows and Mitigation Approaches
11:30
Critical Infrastructure and Real Estate Deals Post-FIRRMA: Impacts of the New Regs, Transaction Pressure Points and Mitigation Strategies
12:30
1:1 Networking
12:45
Lunch Break
1:15
What to Prepare for and Expect with a Mandated CFIUS Monitor
2:00
Navigating the Current Global Scene: The Latest Developments in Overseas FDI Processes and Strategies for Managing Cross-Border Coordination
3:30
Afternoon Break
3:45
Assessing FIRRMA’s Impact on Investment Deals Involving Private Equity Funds
4:45
Conference Concludes

Day 1 - Tuesday, April 20, 2021

9:45
Opening Remarks from the Co-Chairs

David R. Hanke
Partner
Arent Fox LLP

Damara Chambers
Partner
Vinson & Elkins LLP

10:00
Keynote Address: U.S. Department of Treasury
blank-headshot

Brian Reissaus
Senior Official Performing the Duties of the Assistant Secretary for Investment Security
U.S. Department of the Treasury

10:30
A 360 Degree View of Today’s CFIUS Landscape 1 Year Post-FIRRMA Implementation

John Medel
Vice President, International Government Affairs
Goldman Sachs

David R. Hanke
Partner
Arent Fox LLP

Andrew Fair
Deputy Director, Office of Investment Security (CFIUS)
U.S. Department of the Treasury

Josh Larocca
Senior Managing Director
Stroz Friedberg, an Aon company

Ambassador Miriam Sapiro
Vice Chair, SVC Public Affairs
Former Acting and Deputy U.S. Trade Representative

Sard Verbinnen & Co.

Moderator:

John M. Beahn
Partner, CFIUS Practice
Shearman & Sterling LLP

  • Examining the implications of full FIRRMA implementation one year later: assessing trends, lessons learned and what is on the horizon for the remainder of 2021?
  • What trends are being seen with regard to:
    • Filings, reviews and timeliness
    • The number of transactions CFIUS is “vetoing”
    • The percentage of transactions that require a second stage investigation
    • Which countries’ involvement in transactions is decreasing, and which countries involvement is increasing?
    • What sectors are most represented in filings, and what sectors are least represented?
  • How has CFIUS been “fine tuning” the new FIRRMA legislation to respond to evolving threats and commercial transactions?
  • How has having a mandatory filing obligation changed transactional due diligence?
  • What policy changes are being seen or anticipated from the new Biden administration?
  • What are the key considerations for both companies and Third Party Monitors in the current CFIUS landscape?

11:45
Morning Break
12:00
Interactive Think-Tank with CFIUS Alumni: Addressing FIRRMA Pressure Points and Challenges

Aimen Mir
Partner
Freshfields Bruckhaus Deringer LLP

Anne Salladin
Partner
Hogan Lovells US LLP

Shawn Cooley
Partner
Weil Gotshal & Manges LLP

Following our opening panel, take advantage of an exclusive opportunity to join an interactive segment where attendees can meet CFIUS industry leaders face-to-face and engage in a “zoom-style” think-tank on FIRRMA pressure points and challenges. Come camera ready and engage in a discussion about the things practitioners feel are not working, and potential high-priority tweaks that could potentially be made by the Committee that could have a significant positive impact.

12:45
Examining New Rules on CFIUS Mandatory Filings: Implications for Critical Technology Investments and the Interplay with Recently Issued Export Control Reform

John Isbell
Director of Strategic Analysis Division Office of Strategic Industries and Economic Security
U.S. Department of Commerce

Laura J. Molinari
Assistant General Counsel, Global Trade Services
TE Connectivity

Steve Klemencic
Managing Director and Partner
Berkeley Research Group LLC

Meena Sharma

Meena Sharma
Deputy Director, Office of Investment Security Policy and International Relations
U.S. Department of Treasury

Moderator:

Charles Capito
Partner
Morrison & Foerster LLP

  • Analyzing the new regime for how to assess mandatory filings in connection with critical technologies
  • How does the recent Final Rule on CFIUS mandatory filings change the circumstances in which a “critical technology” investment will trigger a mandatory filing requirement?
    • What exactly is CFIUS looking at in making these determinations?
    • What should companies be considering when assessing their own tech?
  • How does the final rule tie filing requirements for investments in U.S. critical technology to export license requirements?
  • Examining the specific criteria set forth by the Department of Commerce’s Final Rule (October 5, 2020) which imposes new multilateral controls on six “emerging technologies”
  • What criteria must be met to qualify for the exceptions to the mandatory filing requirement under the Export Administration Regulations (EAR)?
  • How should companies and their counsel best traverse this new regime?

1:45
1:1 Networking Opportunities

Take advantage of this networking break and see how many people you meet. Your next legal team, business partner or client could be right in our virtual networking room – it is up to you to find them! To maximize your connections, benefit from virtual business card exchange opportunities.

2:00
Lunch Break
2:30
Updating Your Mitigation Approach to New and Evolving CFIUS Requirements and Trends: Overcoming the Top 5 Mistakes Companies Make in CFIUS Mitigation Planning, Design and Implementation

Jess Henson
Deputy Director, Office of Investment Security
Investment Review & Investigation

U.S. Department of Treasury

blank-headshot

Ty Brown
Deputy Chief
National Security Division, Foreign Investment and Review

U.S. Department of Justice

Heather Finstuen
Partner
Covington & Burling LLP

Brandon L. Van Grack
Partner
Morrison & Foerster LLP

Moderator:

Randall H. Cook
Senior Managing Director
Ankura

  • Assessing how the new regulations have affected mitigation requirements, negotiations and agreements
  • Examining the latest and most effective strategies for CFIUS mitigation planning and design
  • Strategies for negotiating potential mitigation steps early in the transaction’s life cycle to help get the deal through
  • Analyzing current trends in mitigation agreement language
  • To what extent is CFIUS imposing interim mitigation agreements?

3:30
Spotlight Interview

Captain Colin Supko
Director
U.S. Department of Defense Trusted Capital

Interviewed by:

Irmie “Ike” Blanton
Deputy Director – International and Strategic Engagement
Foreign Investment Review (CFIUS)
OSD / A&S / Industrial Policy / FIR

U.S. Department of Defense

Examining the U.S. Department of Defense’s Trusted Capital Digital Marketplace (TCDM) which aims to connect innovative defense technology startups with trusted sources of venture capital funding – How will this new program interface with CFIUS?

4:00
Afternoon Break
4:15
How to Effectively Respond to the Recent Uptick in Enforcement and the Rise of Investigations of “Non-Notified” Transactions

J. Philip Ludvigson
Acting Deputy Assistant Secretary
Office of Investment Security

U.S. Department of Treasury

David Jividen
Deputy Director, CFIUS Foreign Investment Review
OSD, Industrial Policy

U.S. Department of Defense

blank-headshot

Eric S. Johnson
Deputy Chief, Compliance and Enforcement National Security Division
Foreign Investment Review Section

U.S. Department of Justice

Samuel P. Jacobs
Associate Managing Director
Kroll, a division of Duff & Phelps

Moderator:

Benjamin Powell
Partner
WilmerHale

  • In what ways has CFIUS been ramping up its post-agreement monitoring and enforcement? What changes have we seen over the last year?
  • Understanding what the new enforcement priorities are and how to best prepare and navigate
  • What do we expect that the new anticipated enforcement guidelines from the Department of Treasury will focus on?
  • What are the anticipated enforcement priorities of the Biden administration?
  • Analyzing the recent escalation of investigations and enforcement actions in connection to “non-notified” transactions
    • What types of transactions are being captured?
    • Do they typically involve China?
    • When CFIUS looks at past transactions, how far back are they typically looking?
    • How are practitioners handling this?

5:30
Key Takeaways from the New CFIUS Declaration Process
Chris Griner

Chris Griner
Partner
Stroock & Stroock & Lavan LLP

Renee A. Latour
Partner
Clifford Chance US LLP

Sarah Sullivan
Deputy Director, Office of Investment Security, Investment Review & Investigation
U.S. Department of Treasury

Keith Schomig
Partner
White & Case LLP

  • How has the new declaration process been going one year in?
  • What percentage of declarations are being approved vs. not approved?
  • What makes for a successful declaration?
  • What are the key considerations for a company when deciding whether to file a short form declaration vs. a long form notice?
  • What strategies can be applied to navigating the declaration process moving forward?

6:30
Conference Adjourns

Day 2 - Wednesday, April 21, 2021

9:45
Co-Chairs’ Welcome Back and Recap of Day 1
10:00
Keynote Interview

Adam Hickey
Deputy Assistant Attorney General of the National Security Division
U.S. Department of Justice

Interviewer:

Richard C. Sofield

Richard C. Sofield
Partner
Wiley Rein LLP

10:30
How CFIUS’ Expanded Jurisdiction Over Sensitive Data is Affecting Deal Reviews, Deal Flows and Mitigation Approaches

Karen Plonty
Security Officer & Director of National Security Compliance
HCL Technologies

Jeremy Zucker
Partner
Dechert LLP

Benjamin Heywood
General Partner - SkyRiver Ventures
Co-Founder - PatientsLikeMe

Moderator:

Waqas Shahid
Senior Managing Director
Ankura

  • How has CFIUS expanded jurisdiction impacted deals with US businesses that focus on data-driven products and services in the last year? How is it impacting the solicitation of foreign investment?
  • What circumstances are triggering a voluntary filing of such transactions?
  • What do companies need to look at and consider in assessing whether they may find themselves in CFIUS crosshairs?
  • How does a transaction proceed if covered sensitive data is involved?
  • Examining CFIUS recent investigations of past non-notified transactions involving U.S. companies that collect/store large amounts of data
  • What kinds of requirements are being imposed to mitigate CFIUS concerns with sensitive data?
  • How can the treatment of personal data under CFIUS regulation adjust given recent, rapid technological changes causing shifting threats and vulnerabilities?
  • Is there any indication that a Biden administration will take a different approach to concerns about sensitive data?

11:30
Critical Infrastructure and Real Estate Deals Post-FIRRMA: Impacts of the New Regs, Transaction Pressure Points and Mitigation Strategies

Michael Considine
Deputy Assistant Secretary
Office of Foreign Investment and National Security

U.S. Department of Energy (DOE)

Damara Chambers
Partner
Vinson & Elkins LLP

Nancy A. Fischer
Partner
Pillsbury Winthrop Shaw Pittman LLP

  • How have deals involving critical infrastructure been impacted in the last year?
  • What have been the pressure points of such deals?
  • Have the new regs regarding critical infrastructure had an outsized effect on any particular industry? What about energy?
  • What kinds of controls are being imposed to mitigate CFIUS concerns with regard to critical infrastructure?
  • What have we seen in terms of real estate filings?
  • What are RE dealmakers doing to mitigate national security concerns if they are deemed under CFIUS scrutiny?
  • Have the new real estate regulations been impacting the acquisition of public lands/mineral rights, e.g. unpatented mining claims and federal oil and gas leases?

12:30
1:1 Networking
12:45
Lunch Break
1:15
What to Prepare for and Expect with a Mandated CFIUS Monitor

Scott Boylan
Partner
StoneTurn

Eileen Keenan
Attorney Advisor
U.S. Department of Justice
National Security Division
Foreign Investment Review Section

  • To what extent is CFIUS utilizing third-party, independent parties to monitor agreements?
  • What practical ways can companies prepare for and take advantage of mandated third-party monitors under CFIUS?
  • What are successful strategies for independent party oversight?
  • What are the costs of not implementing effective independent party controls?

2:00
Navigating the Current Global Scene: The Latest Developments in Overseas FDI Processes and Strategies for Managing Cross-Border Coordination

Jennifer Danner Riccardi
Senior Trade Policy Advisor
Delegation of the European Union to the United States

Ian Beckett
Minister-Counsellor (Treasury)
Embassy of Australia to the United States

Dr. Bastian Alm
Counselor
Embassy of the Federal Republic of Germany

blank-headshot

Katherine Burke
Director, Investment Review Division
Innovation, Science and Economic Development Canada (ISED)

Laura Black
Director, Office of Investment Security, Policy and International Relations
U.S. Department of Treasury

blank-headshot

Sarah Montgomery
Counsellor of Trade and Economic Policy
U.K. Department of International Trade (DIT)

  • An assessment of the current trade environment with China and how it is affecting deal flows
  • Examining the latest developments in global FDI processes in the last year (UK, Australia, Spain, Italy, Germany, Japan, Canada, China, France)
  • Analyzing the nuances of the new EU rule on Foreign Direct Investment which went into effect in October 2020
  • How should you be thinking about these new cross-border developments if you are a US company doing a global deal?
  • How is cross-border coordination playing out for those who qualify as excepted investors?
  • How is the Biden administration going to look at cross-border opportunities?

3:30
Afternoon Break
3:45
Assessing FIRRMA’s Impact on Investment Deals Involving Private Equity Funds

Doreen M. Edelman
Partner
Chair, Global Trade & Policy

Lowenstein Sandler LLP

Harry Broadman
Chair, Emerging Markets and CFIUS Practices
Berkeley Research Group LLC
Faculty Scholar
Johns Hopkins University

David Shogren
Deputy Director, Office of Investment Security, Investment Review and Investigation
U.S. Department of Treasury

  • How are PE companies dealing with the new CFIUS reality post-FIRRMA?
  • Are we seeing a change in the way PE companies are structuring their funds, shaping their deal making practices or organizing their financing practices?
  • What trends are being seen with regard to the review of PE deals, process challenges, mitigation in the PE context, due diligence in the PE context, etc.?
  • Considerations for U.S. private equity funds who are evaluating whether their fund structures could cause them to be considered a foreign person for CFIUS purposes?

4:45
Conference Concludes