Long-awaited final rules from the U.S. Treasury Department governing national security reviews of foreign investments in U.S. companies were issued Monday. Executives at a broad spectrum of companies involved in technology, infrastructure, and data "should be aware of these changes, particularly the expanded jurisdiction of CFIUS [the Committee on Foreign Investment in the United States] and mandatory reporting requirements," said Christian Davis, an international trade partner at Akin, Gump, Strauss, Hauer & Feld in Washington, D.C.

The regulations require mandatory filing for review by CFIUS, an interagency panel chaired by the Treasury secretary, for investments in either of two categories: First, certain foreign government–backed investments in U.S. businesses and, second, certain foreign investments in critical technology companies. Most filings remain voluntary, however.