# kaal:claim:1664809-016

**Claim.** For European jurisdictions the extraterritorial application of US law creates confusion and legal uncertainty and makes it harder to regulate private parties who engage in regulatory arbitrage by taking their litigation to the United States when convenient.

**Type.** failure  **Support.** argued

**Holds when.**

- European jurisdictions whose parties can access US courts

**Source quote.**

> US law can create confusion, legal uncertainty, and difficulties

**From.** Richard W. Painter, Wulf A. Kaal, *Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for* (2010), 4. THE IMPACT OF TRANSNATIONAL SECURITIES LITIGATION, page 4

**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

**Failure mode.** regulatory-arbitrage-by-forum-choice  (family: regulatory-arbitrage)

**Topics.** law-and-legal-systems, regulatory-failure, compliance

**Keywords.** legal-uncertainty, regulatory-arbitrage, extraterritoriality, european-jurisdictions, enforcement

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