Commerce Dept. seeks $36.2 million to establish program for reviewing ICTS sector transactions

The Commerce Department is proposing to shift responsibility to the Bureau of Industry and Security for reviewing foreign company transactions in the communications and IT sectors under a new regulatory regime, and is seeking $36.2 million in funding to stand up the program.

The move is the latest in a series of actions to implement a controversial rulemaking impacting the information and communications technology and services (ICTS) sector established in an interim final rule under former President Trump.

“The...