Treasury Proposes Expanded Outbound Investment Restrictions under COINS Act
The Treasury’s new rule will broaden U.S. outbound investment bans, tightening national‑security scrutiny of foreign ownership.
On October 22, 2026 the U.S. Department of the Treasury released a proposed rule to implement the outbound investment provisions of the Comprehensive Outbound Investment National Security (COINS) Act. The proposal expands restrictions beyond publicly traded securities to include private company investments, real estate, and other tangible assets that could be acquired by foreign entities. The Treasury’s draft broadens the trigger for national‑security reviews, requiring companies to apply for a license or, in some cases, to block or divest an investment entirely. Clients with recent or planned outbound investment activities will need to assess whether their holdings fall within the new rules, file comments where appropriate, and prepare for tighter scrutiny in future participation. The comment period closes on December 7, 2026, after which the Treasury may issue a final rule that could significantly alter the risk landscape for U.S. firms investing abroad.