On October 28, 2024, the U.S. Department of the Treasury finalized regulations for the Outbound Investment Security Program, aligning with President Biden’s August 2023 Executive Order, which restricts investments in sensitive technologies in “countries of concern,” primarily China. Effective January 2, 2025, the program mandates compliance from U.S. persons regarding their financial transactions involving covered foreign entities. Key features include obligations for controlled foreign entities, a knowledge standard for prohibited activities, and exceptions for certain investments. The bipartisan support suggests continuity across future administrations, while Congress considers additional legislative measures. Violations may incur significant penalties.