ICI Member Call on Outbound Investment/China Executive Order and ANPRM: August 22, 1:00 p.m. (ET)
[35402]
August 17, 2023
TO: AML Compliance Working GroupChief Risk Officer Committee
Global Markets and Investing Workng Group
Operations Committee
SEC Rules Committee RE: ICI Member Call on Outbound Investment/China Executive Order and ANPRM: August 22, 1:00 p.m. (ET)
On August 9, 2023, President Biden signed a highly anticipated Executive Order to establish a U.S. outbound investment regime. At the same time, the Treasury Department published an Advance Notice of Proposed Rulemaking to initiate a rulemaking process to develop and implement an outbound investment regime that addresses the national security threat posed by "countries of concern" seeking to exploit advanced technologies to enhance their military, intelligence, surveillance, or cyber-enabled capabilities. Under the current proposed outbound investment proposal, the U.S. Government is focusing on certain investments by U.S. persons in companies located in the People's Republic of China, Hong Kong, or Macau that engage in activities involving certain advanced technologies described in more detail below. The ANPRM invites public comment on the intended outbound investment regulations by September 28, 2023.
We are carefully considering the potential impact of the outbound investment regime as proposed in the ANPRM on our member firms and will be preparing a response. We have held two webinars since the release of the Executive Order, available for members here: https://www.ici.org/ici-global-recording-archives#guestbriefings.
We will hold a member call on Tuesday, August 22 at 1:00 p.m. (ET) to go over the issues and questions that we have identified thus far and to seek input from members on these issues as well as others that they have identified. The dial-in details are below.
Member Call - Tuesday, August 22 at 1:00 p.m. (ET)
https://ici-org.zoom.us/j/93700563516?pwd=UmpFcHE5SWE4MnNJV0J2UFR0M0NzUT09
Meeting ID: 937 0056 3516
Passcode: 745454
We hope you can join us for the call. Please reach out if you have any questions.
Eva M. Mykolenko
Associate Chief Counsel - Securities Regulation