Can someone who does CFIUS or work with OISP/OFAC (or anything related to trade, exports, sanctions, national security) explain what they do on a day to day basis. Do you find the work enjoyable and make your billables? I’m interested in this practice and would love to learn more.

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My friend does antitrust (specifically HSR) and does CFIUS work as well. He likes his job. Bills 1.2-1.7k / year, but his job is safe given his practice.

Not sure what he does day to day for CFIUS

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Hard to describe written but it’s transaction based.

CFIUS is sort of its own sub-group in my firm's Nat Sec and Trade Controls practice. I've done CFIUS work but I'm really more of a white collar investigations attorney with one foot in the Nat Sec / Trade Controls group (other foot doing largely FCPA). For the past year or so I've been almost 100% on trade controls work, mostly investigations, but I used to be more like 30% in that world, some of which was compliance consulting, in a sense--basically advising companies on whether and how they can conduct risky transactions while minimizing their risk of inadvertently violating sanctions or export controls.

I've always thought the trade controls work was more interesting than the FCPA work; it's way more dynamic, since sanctions and export controls are always changing whereas FCPA work is much more static. Both types of work are highly fact-dependent, so there is always an interesting investigative aspect, but the trade controls side has interesting legal issues pop up far more often than the FCPA side. Trade controls investigations also tend to move more quickly than other white collar investigations, for a variety of reasons.

Of course - please do.

I do all of the above (export controls, sanctions, CFIUS, OISP) and like it a lot. Part of the appeal for me is being able to have so many issue areas—trade itself is a specialty, but within that you could do just sanctions, for example, or a mix of all. Depends on the firm. I’ve always made hours except one year (overall down year for firm). Work is a mix of regulatory advising (day-to-day compliance as explained by A4), investigations / enforcement, and transactional support for M&A (diligence and CFIUS filings). That also depends on firm.

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