David Vance Lucas Discusses Expanding FDI, FOCI and 50% Rules in Webinar

Womble Bond Dickinson Partner David Vance Lucas led a webinar on “Navigating FOCI: Foreign Ownership, Control and Influence”. The August 20 webinar was presented by Alabama International Trade Center, the Alabama Small Business Development Center Network (ASBDC), and Womble Bond Dickinson.

In the presentation, Lucas addressed recent developments in foreign direct investment, foreign ownership, control and influence, and federal foreign ownership-based restrictions.

Lucas examined the Department of Defense FOCI rule and its potential disclosure and mitigation requirements for certain contractors and subcontractors. He also discussed proposed agricultural land reporting requirements involving beneficial ownership, ownership structures and covered leases.

The program also compared and contrasted the Office of Foreign Assets Control’s 50% Rule with the Bureau of Industry and Security’s prospective (50%) affiliates rule, including their differing applications in the sanctions and export-control contexts. Lucas also discussed diligence considerations for businesses involved in international transactions, sensitive technology, controlled information, government contracting and U.S. agricultural land.