CFIUCorruption and Fraud Investigation Unit (World Bank)
CFIUChild and Family Investigation Unit (Australia)
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CFIUS's structure and scope make it a robust defensive mechanism for the U.S.
CFIUS's exercise of power is impossible to observe directly as its deliberations are kept confidential due to the sensitivity of the business information and intelligence involved.
The main source of information on CFIUS's decisions is publicly approved or denied transactions.
(62) Like the CATIC-MAMCO acquisition, the Huawei-3Leaf acquisition demonstrates that CFIUS bases its decision to permit or block a transaction based on a foreign entity's relation with a foreign government as well as the potential for that entity to gather intelligence as a result of the transaction.
In 2000, CFIUS reviewed the acquisition of Verio, (63) an American web hosting company, by NTT Communications, (64) the telecommunications subsidiary of a Japanese holding company where the Japanese government was a majority shareholder.
Besides the defense and information technology industries, CFIUS has been active in reviewing transactions within the energy industry.
CFIUS reviews the national security implications of certain foreign takeovers of U.S.
Reporting a foreign investment transaction to CFIUS is primarily voluntary.
Secretary of the Treasury, CFIUS is an interagency committee comprising the heads of nine federal agencies: the Department of the Treasury, Department of Justice, Department of Homeland Security, Department of Commerce, Department of Defense, Department of State, Department of Energy, Office of the U.S.
At first glance, it appears that the Chinese Joint Conference charged with conducting the national security review may have been modeled after CFIUS's interagency committee structure.
On the other hand, if a ministry is only called to participate when it is likely to have relevant knowledge, this may present a more streamlined process than CFIUS's, by only calling upon agencies who are likely to have valuable input.
Prior to filing a notice, a foreign investor can request a pre-filing consultation with CFIUS. (107) CFIUS, however, cannot issue advisory opinions: Instead, the consultation "aid[s] [CFIUS's] understanding of the transaction and provide[s] an opportunity for [CFIUS] to request additional information to be included in the actual notice." (108) Unlike China's pre-filing consultation, CFIUS's consultation does not appear to be limited to procedural matters.