# kaal:claim:1664809-022

**Claim.** Overlapping regulation and inconsistent legal rules create uncertainty, so that individual board members of European companies and their attorneys will not know which legal rules apply or what effects those rules may have.

**Type.** mechanism  **Support.** argued

**Holds when.**

- companies exposed to more than one regulatory regime

**Source quote.**

> Overlapping regulation and inconsistent legal rules create uncer-

**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, page 5

**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.** dual-regime-uncertainty  (family: jurisdictional-conflict)

**Topics.** law-and-legal-systems, corporate-governance, compliance

**Keywords.** legal-uncertainty, overlapping-regulation, boards-of-directors, compliance, european-companies

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