Kevin Wolf Quoted by FT on Challenges Posed by Trump Plans to Expand CFIUS

February 28, 2018

Reading Time : 1 min

Contact:

Jacinta O'Shea-Ramdeholl

Director of Communications

Sarah Richmond

Senior Communications Manager

Akin Gump international trade partner Kevin Wolf has been quoted by Financial Times for its article “Trump’s protection plan to keep ‘competitor’ China at bay,” on the U.S. administration’s approaches to reforming the process by which foreign investment is regulated and reviewed.

The article discusses a bill before Congress containing proposed reforms, supported by the Trump administration, of the Committee on Foreign Investment in the United States (CFIUS), the interagency body that reviews inbound investment on national security grounds. Beyond its current responsibilities, CFIUS, were the bill to become law, would also examine outbound investment by U.S. companies.

Discussing the increased scope—and workload—were CFIUS’s areas of responsibility to expand, Wolf, who was the primary Commerce Department senior official responsible for working with CFIUS when he served as Assistant Secretary of Commerce for Export Administration in the Bureau of Industry and Security, said, “The current system can barely handle the 240 cases that it has now, and we are looking at an expansion of scope of hundreds or thousands of additional cases.”

He added, “That’s going to need a very large organization of people and new people at agencies that don’t yet exist. It’s going to create an extraordinary bureaucracy.”

Share This Insight

People Mentioned in This News

© 2024 Akin Gump Strauss Hauer & Feld LLP. All rights reserved. Attorney advertising. This document is distributed for informational use only; it does not constitute legal advice and should not be used as such. Prior results do not guarantee a similar outcome. Akin is the practicing name of Akin Gump LLP, a New York limited liability partnership authorized and regulated by the Solicitors Regulation Authority under number 267321. A list of the partners is available for inspection at Eighth Floor, Ten Bishops Square, London E1 6EG. For more information about Akin Gump LLP, Akin Gump Strauss Hauer & Feld LLP and other associated entities under which the Akin Gump network operates worldwide, please see our Legal Notices page.