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Overview
The Rules of the global game continue to change. Increasingly urgent national security anxieties have reframed the global risk environment for policy makers, with critical impacts for business, investment, and innovation. The relatively benign assumptions of the post Cold War era—that increased economic, technological, and digital interdependence would result in societal convergence and the end of geopolitical conflict—have given way to worry that adversaries are exploiting global markets in order to achieve unacceptable strategic advantage. Policy makers’ past attitude of benign laissez faire neglect toward markets has been replaced by a conviction that markets do not appropriately price national security risk nor incentivize investment in security, resilience, and integrity.
The upshot is a more anxious, dynamic, and assertive security state, with increased authority and capability to strategically intervene to correct for perceived market failures through the use of sticks and carrots. On the sticks side, the past year has witnessed a marked uptick in investigative and enforcement activity focused on foreign investment, technology transfers, information and network security, supply chain, software, critical infrastructure, communication networks, and all species of third party relationships. On the carrot side, whether described as industrial policy, whole of government strategies, integrated deterrence, or Bidenomics, policy makers are explicitly tying participation in lucrative government programs to firms’ cooperation with national security and related policy objectives.
Recent developments include, among others:
- The expansion and aggressive assertion of U.S. Foreign Direct Product Rule (“FDPR”) authorities, particularly to deny adversaries’ access to advanced computing and semiconductor technology and capabilities;
- Implementation of long-anticipated outbound investment controls, targeting adversary high technology capitalization;
- Announcement of a “Triseal” notice by the U.S. Departments of Justice, Commerce, and Treasury communicating expectations for prompt voluntary self disclosure and investigation of violation conduct by corporations;
- Issuance of the largest export control civil enforcement penalty ever issued: $300 million against Seagate for violation of the FDPR;
- Issuance of CFIUS penalty guidelines;
- Issuance of a U.S. Cyber National Security Strategy;
- Issuance of European Economic National Security Strategy;
- Issuance of U.S. guidance regarding access to semiconductor manufacturing subsidies, tying access to the funds to a commitment not to expand production in adversary nations.
While this dynamic environment presents new challenges for transactions and operations, it also creates opportunities for companies, organizations, investors, and counsel who engage and adapt. Companies, organizations, and investors that plan for and implement effective proactive, reactive, and mitigation strategies to navigate emergent security and regulatory risks and requirements will have an advantage in the global market and unlock value for their stakeholders.
What You Will Learn
This one day conference will take a two-pronged approach to engage attendees and participants in identifying and developing effective strategies:
First, there will be three panels, each one focused on identifying key developments and analyzing their impact in a substantive policy and regulatory issues area:
- Foreign investment reviews;
- Trade and technology controls; and
- Sensitive data, network, and supply chain security.
Second, there will be three panels, each one focused on describing the current state of expectations, best practices, and practical success strategies in a risks and opportunities posture area:
- Enforcement: senior Government national security officials, regulators, and enforcers will provide perspective on their assessments, priorities, and expectations;
- Reactive Strategies: detecting, containing, and resolving policy and regulatory risks and requirements when they manifest; and
- Proactive Strategies: anticipating, defining, and reducing policy and regulatory risks and requirements before they manifest.
The Conference will bring together industry, financial, regulatory, and policy experts; attorneys and professional service providers; US and foreign Government officials; and corporate and organization executives who operate at the intersection of policy, technology, trade, and finance to provide interdisciplinary insight into the risks and opportunities of a dynamic world.