The Foreign Investment and National Security Act of 2007  (“FINSA”) was enacted to enlarge the powers of the Committee on Foreign Investment in the United States (“CFIUS”) in the wake of the Dubai Ports World controversy related to port management and U.S. national security. The regulations implementing FINSA will become effective on December 22, 2008, and will expand the type of transactions involving foreign buyers which come within the purview of CFIUS. On December 2, Treasury, as chair of CFIUS, issued guidance with respect to transactions involving foreign investors in which national security interests may be implicated.  Orrick Client Alert.  Treasury Guidance Summary. Final FINSA Regs.

On December 8, the FDIC announced requirements regarding debt instrument reporting in respect of the Temporary Liquidity Guarantee Program and outlined procedures for the collection of assessments on guaranteed debt. The FDIC also recently updated the FAQs with additional details regarding the debt guarantee. Debt Instrument Reporting. TLGP FAQs.