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TREAS / CFIUSModerate activityReview recommended · 2026-07-10

Department of the Treasury / CFIUS

Reviews foreign investment (CFIUS) and administers the Outbound Investment Security Program — codified and expanded by the FY26 NDAA — relevant to communications infrastructure and technology.

One-minute briefing

Agency snapshot

The Comprehensive Outbound Investment National Security Act — part of the FY26 NDAA signed December 2025 — codified and expanded the Outbound Investment Security Program, extending covered countries beyond China/Hong Kong/Macau to include Cuba, Iran, North Korea, Russia, and Venezuela and adding sectors like high-performance computing and hypersonics. Treasury is expected to finalize new regulations within 450 days of enactment; existing rules remain in effect meanwhile. CFIUS continues inbound reviews. Confirm at home.treasury.gov.

2
Active initiatives
1
Upcoming deadlines
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Priority topics
Most important thing right now

Assess exposure to the expanded outbound-investment scope (new countries and sectors) ahead of Treasury’s forthcoming regulations.

Mandate & jurisdiction

What this agency does

CFIUS and outbound-investment rules affect member M&A, foreign capital, and investment into sensitive communications technology.

CFIUS review

Assesses national-security risk of foreign investment in U.S. communications assets.

Outbound program

Restricts U.S. investment into sensitive technology in countries of concern.

Regulations

Will issue expanded outbound rules under the FY26 NDAA.

Jurisdiction

  • Inbound foreign-investment review (CFIUS)
  • Outbound Investment Security Program
  • Financial-security policy
Who should care

Corporate development, legal, and investment teams.

Operational

Deal structuring and investment decisions.

Compliance

CFIUS filings and outbound-investment notifications.

Procurement

Foreign-ownership considerations in partnerships.

Initiatives & deadlines

What they are working on now

UpcomingPendingInvestment review 2027-03-01

Outbound Investment Security Program expansion

The Comprehensive Outbound Investment National Security Act (FY26 NDAA, Dec 2025) codified and expanded the program, extending covered countries to include Cuba, Iran, North Korea, Russia, and Venezuela and adding sectors such as high-performance/supercomputing and hypersonics. Treasury is to finalize new regulations within 450 days; existing rules remain until then.

MonitorMonitoringForeign-adversary ownership

CFIUS inbound reviews

CFIUS continues reviewing foreign investment in U.S. communications infrastructure for national-security risk, with authority to impose mitigation or block transactions.

Upcoming dates

  • 2027-03-01Expected finalization window for expanded outbound-investment rules
Key decision-makers

Leadership to know

We focus on the roles whose decisions reach members, and why each one matters — not biographical trivia. Names are intentionally withheld until verified against an official source.

Scott Bessent
Secretary of the Treasury

Why it mattersChairs CFIUS and oversees the outbound-investment program.

Review recommended
Working Group analysis

What we are watching

Confidence: ExpectedStrong signals point this way, but no final official action yet.

What changed

  • Outbound program codified/expanded via FY26 NDAA (Dec 2025); more countries and sectors covered.

What we are watching

  • Final Treasury outbound regulations.
  • CFIUS posture on communications deals.

Member exposure

  • Investment restrictions; deal-review conditions.

Recommended preparation

  • Assess outbound exposure; build CFIUS/notification readiness.

Open questions

  • Exact covered sectors/thresholds in the final outbound rules.
Primary references

Sources & verification

Agency-level sources

This profile is a sample interface. Leadership names, dates, regulatory status, and figures must be confirmed against current official sources before any member distribution.