Treasury Proposes Expanded Outbound Investment Rules Under COINS Act
Treasury's Office of Investment Security published an NPRM on October 22, 2026 to implement Subtitle C of the COINS Act, signalling an expansion of the U.S. outbound investment security program.
White & Case reports that on 22 October 2026 the U.S. Treasury Department's Office of Investment Security published a Notice of Proposed Rulemaking to implement Subtitle C of the Comprehensive Outbound Investment National Security Act, referred to in the report as the COINS Act, the statutory basis for the outbound investment security program.
The development matters because the program conditions certain transactions by U.S. persons involving foreign entities engaged in covered national-security activities, and the reported proposal indicates an expansion of that regime. Counsel advising U.S. and non-U.S. clients on cross-border capital deployment into sensitive technology and adjacent industries should read the NPRM closely for changes to covered sectors and technologies, covered transaction types, notification versus prohibition treatment, and any compliance or filing mechanics. Because the source material reviewed here does not itemise the proposal's provisions, the precise scope of the expansion, the comment-period deadline, and the expected final-rule timetable are unconfirmed in this briefing and should be verified against the Federal Register text and agency docket. Watch for the comment docket, any interim guidance, and the final rule, and reassess client deal gating, structuring, and disclosure practices once the final text publishes.