The U.S. Department of the Treasury has announced a new pilot program aimed at expediting the review process for foreign investments from allied and partner countries. This initiative, introduced on May 8, 2025, seeks to streamline the Committee on Foreign Investment in the United States (CFIUS) procedures while ensuring national security protections remain robust.
A significant feature of this pilot program is the “Known Investor” portal, which allows CFIUS to gather information from foreign investors before they file their investment proposals. The aim is to accelerate the review process through this pre-filing mechanism. Although further details about the program are yet to be disclosed, it is intended as a trial with plans for future refinement.
This move aligns with President Trump’s America First Investment Policy announced earlier this year on February 21, 2025. The policy aims to position the United States as a leading destination for global investment while safeguarding against potential threats associated with foreign investments. It includes a “fast-track” process specifically designed for investments from specified allies and partners based on objective criteria; however, no official list of qualifying jurisdictions has been released.
The “Known Investor” program could benefit European and Middle Eastern investors significantly, especially in transactions that pose minimal national security risks. Details regarding its implementation timeline or whether it will involve a notice and comment procedure via the Federal Register remain unclear.
Gibson Dunn’s legal team is actively monitoring these developments and advising clients accordingly. The update was prepared by lawyers Roxana Akbari, Sarah Burns, Stephenie Gosnell Handler, and Chris Mullen from Gibson Dunn.
For further inquiries or assistance related to these matters, Gibson Dunn offers contact information for various practice group leaders within their International Trade Advisory & Enforcement or Sanctions & Export Enforcement teams across multiple regions including the United States, Asia, and Europe.
