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CFO Roundtable: Committee on Foreign Investment in the United States (CFIUS) Update

December 13, 2018
8:00 AM to 10:00 AM PST

Silicon Valley Capital Club
50 West San Fernando Street
San Jose, CA 95113
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Natasha Morales
(408) 352-3576
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  • Summary
  • Agenda
  • Presenters
Please join BDO USA, LLP and your Bay Area CFO colleagues for our quarterly discussion on current issues and best practices that are unique to the technology and life sciences industries. This is a great opportunity for peers to share knowledge and experience with each other.
 
The Committee on Foreign Investment in the United States (CFIUS) exists at the intersection of national security and trade policy. With increasing interest in the investment landscape of critical technologies by foreign companies and countries, the bi-partisan Foreign Investment Risk Review Modernization Act (FIRRMA) seeks to address the evolving national security risks within the United States. In October 2018, CFIUS announced a pilot program to implement significant provisions of FIRRMA – including jurisdiction expansion to cover certain non-controlling investments in US businesses that produce, design, test, manufacture, fabricate or develop “critical technology” with any of the 27 industry sectors in the Pilot Program US Businesses Listing. Parties in these critical technology sectors must make a CFIUS filing in advance of an investment or substantial civil penalties may be imposed – up to the value of the transaction.
 
The compliance obligations under FIRRMA and the Pilot Program represent significant new compliance requirements on US companies and foreign investors. In accordance with these regulatory considerations, companies need to identify, understand, and implement appropriate transactional measures to proactively address these national security concerns. 
In this session, you will learn:
  • What is the Committee on Foreign Investment in the United States (CFIUS)?
  • What types of transactions does CFIUS review and investigate?
  • What are the overall impacts of CFIUS requirements and regulations to your clients involved in Venture Capital, Joint Venture and Private Equity?
  • Best practices about how to effectively manage the CFIUS process in all stages – preparation, submission, review, mitigation, closing, and post-acquisition optimization.
  • Why does this affect you even though you may think it does not?
This will be conversation with our speakers with a brief presentation followed by an informal session with questions from the group.
8:00 AM to 8:30 AM - Registration and Breakfast 

8:30 AM to 10:00 AM - Roundtable Discussion
Moderator

Hitesh Shah has more than 25 years of experience spanning startup through venture financing and eventual M&A exits in multiple high technology companies. He has in-depth experience in people management, finance, venture capital, business development, product management, business planning and customer service. Hitesh has raised over $100M in venture capital for four different startups.

Prior to joining BDO, Hitesh has served in multiple executive roles as CFO, COO and CEO.  He was the Chief Operating Officer at Solum an Andreessen Horowitz, Khosla Ventures and Google Ventures funded company which was acquired by Monsanto.  Hitesh also served as CEO and COO at Fat Spaniel Technologies acquired by Power-One and CFO at iPolicy Networks which was acquired by Tech Mahindra in India.

Hitesh serves as the chairman of the board of Parents Helping Parents (PHP), an organization whose mission is to empower families to build bright futures for children with special needs. He also serves as a board director of Human Needs Project (HNP), an organization focused on alleviating poverty.Hitesh holds a BSc in Industrial Engineering from Western Michigan University and an MBA from UC Berkeley Haas School of Business.

Presenters

Michael Barba leads BDO’s National Security Compliance Practice. He has led engagement teams in a variety of cases involving the Committee on Foreign Investment in the United States (CFUIS), including as the independent and neutral third-party auditor, monitor, and escrow agent.

John Lash provides critical strategic expertise at the intersection of business, technology, and operations – developing innovative solutions during times of change and transformation where budget, reputation, and performance outcomes are at risk.