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Treasury says COINS Act rulemaking underway; members press for clarity on outbound screening
Summary
Members pressed Treasury on implementing the COINS Act (outbound investment screening) and asked how Treasury will balance prohibitions and national-interest exemptions; Assistant Secretary Pilkerton said Treasury has 450 days to issue regulations, will use notice-and-comment, coordinate with OFAC, and publish guidance and FAQs.
Members of the House Financial Services subcommittee pressed Treasury officials about implementing the outbound-investment provisions Congress added to the National Defense Authorization Act (referred to in the hearing as the COINS Act).
Representative Barr noted the administration's reported foreign direct investment commitments and asked how Treasury will manage COINS Act implementation while preserving beneficial outbound…
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