United States of America: Published Executive Order for CFIUS on Ensuring Robust Consideration of Evolving National Security Risks

On 15 September 2022, the US White House published the “Executive Order on Ensuring Robust Consideration of Evolving National Security Risks by the Committee on Foreign Investment in the US”, including cybersecurity regulations in relation to foreign investment. The Executive Order provides guidance to the Committee on Foreign Investment (CFIUS) in their review of transactions that may present risks to national security from foreign investments involving countries that pursue the strategic goal of acquiring critical technology or infrastructure affecting US technological leadership. The Executive Order directs CFIUS to take potential cybersecurity risks to US critical infrastructure and databases housing sensitive data into account when reviewing transactions. Further, the Executive Order highlights several other factors that CFIUS should take into consideration due to their relevance to core US national interests, including heightening scrutiny for transactions involving microelectronics, artificial intelligence, biotechnology and biomanufacturing.