Business groups get win ahead of Senate panel's CFIUS reform markup

In advance of a May 22 Senate Banking Committee markup, key senators have apparently agreed to drop language from a draft of the Foreign Investment Risk Review Act authorizing the Committee on Foreign Investment in the United States, or CFIUS, to review outbound investments for technology transfers that could harm U.S. national security, a win for companies and business groups that had lobbied against it.

The original language in the draft would have given CFIUS authority to review outbound investment...