kaal:claim:1664809-009

The significant steps standard of section 7216 is probably broader than the Second Circuit's conduct and effect test, and the proposed statutory language would therefore reach a wider range of defendants.

Source quote, verbatim

statutory language in section 7216 is arguably broader than the

From

Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010), 4.3. Legal Uncertainty, p. 6
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

comparison of section 7216 language with existing Second Circuit doctrine

Classification

conditionsupport: arguedinstitutional-design

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