Foreign Investment Risk Review Modernization Act (FIRRMA)

The Foreign Investment Risk Review Modernization Act (FIRRMA), enacted in 2018, updates U.S. regulations to strengthen the Committee on Foreign Investment in the United States (CFIUS). It broadens the review process to scrutinize certain investments, acquisitions, or real estate transactions involving foreign entities that could impact national security. FIRRMA aims to better identify and mitigate risks from foreign influence or espionage, especially in critical industries, technology, and infrastructure, ensuring that foreign investments do not compromise U.S. security while maintaining an open investment environment.