The US Treasury Department has issued final regulations governing the policy and procedures of the Committee on Foreign Investment in the United States (CFIUS). The regulations will go into effect on or about December 18, 2008. The final regulations largely codify procedures that CFIUS already has been following for some time or that were introduced by FINSA. Of particular note is the removal of a controversial discussion of CFIUS’s power to reopen transactions previously cleared by CFIUS. The final regulations allow CFIUS to exercise this power only in extraordinary circumstances, and this revision appears to be intended to assuage the concerns of foreign investors that CFIUS planned to increase its scrutiny of transactions previously cleared by CFIUS. For a full discussion of the new regulations, please see our client alert of November 17, 2008.