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Global Markets & Investments

Committee on Foreign Investment in the U.S. (CFIUS)

Per a 1975 executive order, CFIUS is an interagency committee that reviews certain foreign acquisitions, mergers, or takeovers of U.S. businesses to determine the effect of a transaction on the national security of the United States. The Committee is chaired by the Secretary of the Treasury and includes nine voting members. Under the authority, direction, and control of the Under Secretary of Defense for Acquisition and Sustainment (USD(A&S)) Industrial Policy (IndPol) manages the CFIUS process for the Department.

  • CFIUS is notified of a foreign acquisition of a U.S. entity
  • Committee has 45 days to determine whether the transaction threatens national security
  • Transaction is approved OR an additional 45-day Presidential investigation is initiated
  • Transactions can be approved as-is, with mitigation, or they are sent to White House with a recommendation for action
For more information on the CFIUS process, please visit Department of Treasury's CFIUS website.

Global Market Trends and Non-Notified CFIUS Cases

CFIUS plays a vital role in reviewing potential problems related to foreign investment in U.S. companies. IndPol reviews global market activity in the defense sector to determine if there are any potential impacts to the U.S. defense industrial base. These findings are used to determine whether a CFIUS review is warranted.

  • Offering a robust review process for global market activities
  • Preparing weekly newsletter outlining global market activities of interest to disseminate to government stakeholders
  • Transaction is approved OR an additional 45-day Presidential investigation is initiated
  • Working with the Department of Defense (DoD) and other government agencies to ascertain whether activity should be reviewed and referred to CFIUS



  • IndPol is currently revising DoD 2000.25 Department of Defense (DoD) Procedures for Reviewing and Monitoring Transactions Filed with CFIUS (current instructions can be found here).
  • Annual reports pertaining to past CFIUS cases can be viewed at the Department of Treasury website. Read more.