On March 21, 2023, the Department of Commerce (“Commerce”) published a Notice of Proposed Rulemaking (the “Commerce Proposed Rule”) to implement certain provisions of the CHIPS and Science Act of 2022 (“CHIPS Act”) that place restrictions on certain activities of businesses receiving federal funding pursuant to the CHIPS Act (“Commerce Guardrails”). On the same day, the Department of the Treasury (“Treasury”) also published a Notice of Proposed Rulemaking (together with the Commerce Proposed Rule, the “Proposed Rules”) to implement the Advanced Manufacturing Investment Credit (“ITC”), including its own restrictions on certain activities that, in broad strokes, parallel the Commerce Guardrails (together with Commerce Guardrails, “CHIPS Guardrails”) (Covington alert).
Continue Reading National Security Update – Departments of Commerce and Treasury Release Notice of Proposed Rulemaking Regarding CHIPS “Guardrails”
Brian Kim
Brian Kim is a member of the firm’s Washington, DC office where he practices in the firm’s top-ranked cross-border investment and national security group.
Brian advises clients on a broad range of national security, regulatory, and public policy matters related to cross-border investment, data governance, cybersecurity, technology regulation, and supply chain security. He regularly represents clients worldwide in obtaining U.S. national security approvals for foreign investments before the Committee on Foreign Investment in the United States (CFIUS), including negotiating and implementing national security mitigation agreements with the U.S. government, as well as in related reviews conducted by the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector (commonly known as Team Telecom) and proceedings before the Defense Counterintelligence and Security Agency (DCSA) involving foreign ownership, control, or influence (FOCI).
His practice also encompasses emerging national security regulatory regimes affecting technology companies and multinational corporations, including the Department of Commerce’s Information and Communication Technologies and Services (ICTS) Rule and Connected Vehicle Rule, the Department of Justice’s Data Security Program, and the Treasury Department’s Outbound Investment Security Program. Brian regularly advises clients on legal, regulatory, and strategic issues involving China and the broader Asia-Pacific region, including technology regulation, supply chain resilience, and developments arising from the evolving U.S.-China competitive landscape.
Brian served on the firm’s Associate Advisory Committee from 2022 to 2024.