kaal:claim:1664809-002

Congress intended the federal securities laws to cover only purchases and sales of securities that occur within the United States, a conclusion the authors reached with twenty-one law professors after reviewing the legislative history.

Source quote, verbatim

had intended the federal securities laws only to cover purchases

From

Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010), 2. MORRISON V. NATIONAL AUSTRALIA BANK, p. 2
https://ssrn.com/abstract=1664809 · source PDF

Cite as

Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809

Holds when

reading of the 1933 Act and 1934 Act legislative history

Classification

definitionalsupport: arguedinstitutional-design

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