Corporate Counsel quoted Brian Egan in an October 7 article titled "Draft CFIUS Rules on 'Sensitive Personal Data' Mean More Deal Worries for Insurers, Big Data Companies." The article discusses how proposed regulations for national security reviews of deals under the Committee on Foreign Investment in the United States (CFIUS) involving foreign stakes in US businesses that store large amounts of "sensitive personal data" will likely mean scrutiny of many more transactions than before, especially for insurers and other data-driven companies.
Egan says, "We are going to see more clients who inadvertently undergo investments where they don’t realize this new CFIUS requirement could be triggered. We are going to have more after-the-fact questions from companies that didn't know an investment was within CFIUS's jurisdiction, and just got a letter from CFIUS and ask, 'What do we do?' This will lead to more filings with CFIUS."
The full article can be read at Corporate Counsel (subscription required).