Latham draws on broad national security and government experience to help foreign and domestic clients engaged in cross-border investments, mergers, and acquisitions involving US businesses.
We help clients navigate government regulatory regimes and secure clearance from national security regulators, including the Committee on Foreign Investment in the United States (CFIUS), the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector (Team Telecom), the Defense Counterintelligence and Security Agency (DCSA), and the Department of Energy.
Our team engages early with US and foreign parties involved in US business transactions to evaluate the need for and prepare for reviews by US national security regulators. Our work often involves advice relating to:
- Planning and negotiating prospective transactions to manage risk
- Developing mitigation plans to facilitate regulatory approval
- Managing presentations to regulators and advocating for transactions in the regulatory clearance process
- Implementing mitigation agreements and other compliance commitments, and post-transaction advice concerning compliance with ongoing regulatory responsibilities arising from transactions
- Obtaining and maintaining facility security clearances
- Assessing foreign ownership, control or influence (FOCI) over cleared US contractors and negotiating FOCI mitigation arrangements with DCSA, the Department of Energy and other agencies
- Managing national security reviews and/or entry into security agreements with Team Telecom for telecommunications companies
- Addressing export control requirements that may arise from foreign acquisitions
We work in tandem with our transactional colleagues, as well as subject matter and industry experts, to tailor efficient and effective approach for each transaction. We start by working to understand the unique characteristics of the transaction parties, and identify potential sensitivities that could stand in the way of achieving the needed regulatory clearances. The team also works closely with financial, public relations, and other advisors when appropriate to smooth the path to deal clearance.
Agency leaders and staff know us and we know them. Senior lawyers within our group have held positions in the agencies that constitute CFIUS and other US federal agencies. We regularly represent clients before CFIUS as well as its constituent member agencies, including the US Departments of Commerce, Defense, Energy, Homeland Security, Justice (including the FBI), and State.