Since being introduced by Senator John Cornyn (R-TX) on November 8th, the House Financial Services Committee and the Senate Committee on Housing, Banking, and Urban Affairs held four hearings over the past two months on FIRRMA, the bill to expand CFIUS’s jurisdiction. A tone of tempered resolve to expand CFIUS was clear during the hearings.
Read MoreNo sooner had the New Year been pronounced in Times Square than a pronouncement of a different sort was coming out of Washington: the high profile $1.2 billion purchase of MoneyGram by China’s Ant Financial had officially been stymied by the Committee on Foreign Investment in the U.S. (CFIUS) – after three chances at bat.
Read MoreYesterday at the Council on Foreign Relations, I had the honor of interviewing Senator John Cornyn (R-TX) on his plans to “modernize” the Committee on Foreign Investment in the United States (CFIUS). In his opening remarks, Mr. Cornyn admitted CFIUS is working reasonably well, but that there are many gaps being exploited by countries, such as China, in order to leapfrog technology.
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