Media Mention | 28 May 2024
Interview: Anne Salladin and Brian Curran on Biden’s Cfius order
Partners Anne Salladin and Brian Curran (both Global Regulatory & IPMT, Washington D.C.) provide their perspective on a public tip prompting President Joe Biden to force the divestiture of land owned by Chinese company MineOne Partners on national security grounds.
“MineOne is the first time a presidential block is known to have been instigated by a public tip, as Mr. Biden states in his executive order,” said Anne.
Anne shares that she expects more tips to follow given the public nature of the presidential order.
The departments of treasury and defence issued statements on Mr. Biden’s decision which also encourage people to use the tip line to report investments believed to warrant Cfius’s review.
“It points to the fact [Cfius sees tips] as a very useful means of tracking … transactions they think raise national security concerns,” said Brian, adding that it challenges Cfius’s reputation as a secretive “black box”.
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