In an article for Foreign Investment Watch, White & Case partner Laura Black discussed the US Treasury Department's enforcement of the Outbound Investment Security Program (OISP) while the Trump administration continues to review whether it should be modified or rescinded.
The article explains that there have been multiple reports of the Treasury Department reaching out to US venture capital and private equity firms with inquiries regarding investments that may be OISP covered transactions.
When describing the Treasury Department's recent inquiries, Laura said, "I can confirm that Treasury is reaching out with comments and questions on notifications that US investors have voluntarily submitted... in a manner similar to Treasury's approach with respect to CFIUS filings."
Laura also provided guidance on notification requirements for circumstances where there are multiple US investors in a funding round, stating that "While each investor must ensure the accuracy of the information they submit, I would recommend coordination on the portions of the notification relating to the target to ensure consistency and to reduce follow-up questions."
Read the full article here.
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