Treasury Dept. proposes stricter CFIUS penalties, expanded subpoena power

The Treasury Department wants to expand the authority of the Committee on Foreign Investment in the U.S. to demand information from companies in its reviews of transactions for national security implications and hike penalties on companies found to have misrepresented themselves.

Treasury issued a notice of proposed rulemaking on April 11 laying out new measures that would allow CFIUS to require that companies provide it with information about transactions even if those companies have not notified CFIUS of the...