# kaal:claim:1664809-002

**Claim.** 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.

**Type.** definitional  **Support.** argued

**Holds when.**

- reading of the 1933 Act and 1934 Act legislative history

**Source quote.**

> 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, page 2

**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

**Verify.** sha256 of source PDF `2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Painter%20and%20Kaal%20-%202010%20-%20Extraterritorial%20Application%20of%20US%20Securities%20Law%20%E2%80%93%20Will%20the%20US%20Become%20the%20Default%20Jurisdiction%20for.pdf

**Topics.** institutional-design

**Keywords.** congressional-intent, section-10b, legislative-history, amicus-brief, morrison

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.