Authors: Tom Shoesmith, Matthew Dickerson, QU Surui King & Wood Mallesons
2020年5月21日，美国财政部发布一项拟议规则，该规则将修改美国海外投资委员会（CFIUS）法规的部分条款。拟议规则全文可扫文末二维码阅读。该拟议规则以出口许可证为重点，将取代“27个行业”的相关要求。
目前，CFIUS法规对特定预期交易施加强制性申报要求，该等交易包括将导致外国主体对以下类型的美国业务产生控制权、访问权或信息权的交易：相关美国业务
（a）生产、设计、测试、加工、制造或开发一项或多项关键技术；并且
（b）该等关键技术或用于一个或多个由北美行业分类系统（NAICS）列举的27个行业，或旨在为这些行业而设计。
根据拟议规则，CFIUS法规将不再以NAICS为基础界定上述（b）款内容。相反地，（b）款将变更为界定向满足下述条件的外国主体（如果被视为“终端用户”时）出口、再出口、国内转让或再转让关键技术的行为是否必须获得任何“美国管制授权”，该等外国主体是指参与相关交易的（i）因交易而能直接控制相关美国业务，或者对该等美国业务拥有一定访问权或信息权的外国主体（被称为“外国投资者”）；或者（ii）与其同属集团公司或拥有关联关系的其他外国主体共同拥有对外国投资者的25%或以上直接或间接的投票权的外国主体。
“美国管制授权”这一术语是本次新定义的概念，包括美国国务院根据《国际武器贸易条例》（ITAR）或美国商务部根据《出口管制条例》（EAR）签发的任何许可证或其他批准文件、美国能源部根据外国原子能相关法规签发的任何特定或一般授权、或者美国核能管理委员会签发的任何特定许可证。拟议规则明确指出，除了有限的几项EAR许可例外，即使EAR或ITAR下分别规定了许可例外或豁免情况，美国管制授权仍然是必要的。
长期以来，CFIUS一直表示其在考虑作出这一变更，这可能是外商投资和出口相关法规合并趋同的结果之一。“27个行业”这一概念由2018年底制定的“试点计划”创造并保留。新方法利用了完善的美国出口管制体系，尤其是EAR，而该等体系于国际商业机构而言更为熟悉。CFIUS称这一变更应不会对强制申报的案件数量产生明显影响。
拟议规则没有对“关键技术”的定义做出变更。目前，拟议规则尚未生效。财政部面向社会公开征求意见（截止2020年6月22日）。
本期60秒速读启示：CFIUS拟将适用于关键技术的强制申报要求由以北美工业分类系统（NAICS）为基础的范围变更为以出口管制许可要求为基础的范围。
On May 21, 2020, the Department of the Treasury published a proposed rule (the “Proposed Rule”) which would modify certain provisions in the regulations of the Committee on Foreign Investment in the United States (“CFIUS”). The text of the Proposed Rule can be downloaded via the QR code attached at the end of the article. The Proposed Rule replaces the “27 industries” requirement with a new focus on export licenses.
Currently, CFIUS regulations require mandatory notification of a proposed transaction if it results in foreign control of, or certain foreign access or information rights in, certain U.S. businesses that:
(a) produce, design, test, manufacture, fabricate, or develop one or more critical technologies; and
(b) such critical technologies are either utilized by, or designed specifically for use in, one or more of 27 named industries, identified by their North American Industry Classification (“NAICS”) code.
Under the Proposed Rule, the CFIUS regulations would no longer consider nexus to an NAICS code industry in part (b) above. Instead, part (b) would be replaced with a determination of whether any “U.S. regulatory authorization” would be required for the export, re-export, transfer (in country) or retransfer of such critical technology to a foreign person (as if they were an “end user”) who is a party to the transaction, where that foreign person: (i) could directly control, or obtain certain access or information rights in, the U.S. business as a result of the transaction (such person, a “Foreign Investor”); or (ii) when combined with other foreign persons with whom it has group or certain other affiliations with, holds a 25% or more direct or indirect voting interest in a Foreign Investor.
The phrase “U.S. regulatory authorization” is a newly defined term, and includes any license or other approval issued by the Department of State under the International Traffic in Arms Regulations (“ITAR”), the Department of Commerce under the Export Administration Regulations (the “EAR”), any specific or general authorization from the Department of Energy under foreign atomic energy regulations, or any specific license from the Nuclear Regulatory Commission. The Proposed Rule makes clear that, except for some limited EAR license exceptions, a U.S. regulatory authorization is considered to be required even though a license exception or exemption may be available under the EAR or ITAR, respectively.
CFIUS has long signalled this change was coming, perhaps as part of a convergence of foreign investment and export regulations. The “27 industries” concept was a legacy of the “Pilot Program” established in late 2018, and the new approach leverages the established U.S. export control regimes and in particular, the EAR, which may be more familiar to the international business community. CFIUS acknowledges that the change is unlikely to have a significant impact on the number of mandatory declarations filed.
The Proposed Rule does not modify the definition of “critical technologies”. The Proposed Rule is not yet law. The Department of the Treasury invites public comment on the Proposed Rule, which is open until June 22, 2020.
The 60-second takeaway is that CFIUS is proposing to revise the mandatory declaration requirement regarding critical technology away from one based upon NAICS codes to one based upon export control licensing requirements.
Tom Shoesmith, 硅谷办公室
tom.shoesmith@us.kwm.com | +1 (650) 888-2611
Matthew Dickerson, 纽约办公室
matthew.dickerson@us.kwm.com | +1 (917) 460-6834