Wed 04/06/2022 11:14 AM
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Relevant Document:
Rosen Testimony

Takeaways
 
  • Today the Senate Banking Committee held a hearing to consider the nomination of Paul Rosen to be assistant secretary for investment security at the U.S. Department of the Treasury, a position that oversees the work of CFIUS.
  • In prepared testimony Rosen said, “As technology advances at warp speed and the intentions and capabilities of our adversaries expand, CFIUS, and the talented career public servants who support it, are a critical gatekeeper in protecting the United States from malign foreign investment while continuing to promote an open investment climate.”
  • Rosen faced limited and uncontentious questions from the panel.
  • Chairman Sherrod Brown, D-Ohio, said when concluding the hearing that he hopes to move the nominee “quickly.”
Today the Senate Banking Committee held a hearing to consider the nomination of Paul Rosen to be assistant secretary for investment security at the U.S. Department of the Treasury, a position that oversees the work of CFIUS.

In prepared testimony Rosen said, “As technology advances at warp speed and the intentions and capabilities of our adversaries expand, CFIUS, and the talented career public servants who support it, are a critical gatekeeper in protecting the United States from malign foreign investment while continuing to promote an open investment climate.”

Rosen faced limited and uncontentious questions from the panel. Sen. Pat Toomey, R-Pa., inquired about Rosen’s views on national security threats from China related to acquiring key technologies. Rosen said that the threat from China related to the theft of intellectual property was “significant” and was an issue CFIUS needs to be “very focused on.” Rosen also stressed the need to move benign investments through the CFIUS review process and said that he would like to work with the committee to strike that balance to ensure CFIUS’s work does not become protectionist.

Rosen is a partner at Crowell & Moring, where he is co-chair of the firm’s national security practice. He has held leadership roles at the Department of Homeland Security, including chief of staff. Rosen also worked at the Department of Justice in various roles including as a federal prosecutor and also as counsel to then-U.S. Sen. Joseph Biden.

Chairman Sherrod Brown, D-Ohio, said when concluding the hearing that he hopes to move the nomination “quickly.”
 
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