That's correct. In the United States, Treasury chairs CFIUS. There are nine voting members, which are most of the cabinet agencies, including the Department of Defense. For each transaction, Treasury chooses a co-chair who helps lead the review. It operates by consensus of all the member agencies. It often brings in subject matter experts from across the government, which I think is a strength of the system.
My understanding is that ISED does consult inter-agency and bring in subject matter experts when needed, although you may know better than I do. I don't have perfect visibility into that. There are different approaches. It's kind of a hub and spoke. Some jurisdictions are perhaps more similar to Canada, and some are more similar to the U.S.
I don't have a strong opinion on whether they need to be brought in on every transaction, but I do think that kind of consultation ability is important.