WASHINGTON: The US government is likely soon to spell out how it will enforce oversight of foreign investment in the United States, a US official said on Thursday , after a law last year expanded the agency's authority to crack down on harmful Chinese investment.
CFIUS has flexed its muscle in recent months to block and regulate Chinese investment in the United States after Congress passed the so-called FIRRMA law last year. Before the legislation was passed, CFIUS already had authority to levy fines on companies. But the law also gave the agency the authority to impose financial penalties on firms that fail to comply with new mandatory filing requirements."We have a substantial degree of latitude and a big stick in terms of the size of the civil monetary penalty that we can impose for a violation," Feddo said.