# kaal:claim:1664809-036

**Claim.** Exporting and imposing rules through extraterritorial reach could be counterproductive not only for US diplomacy but also for international cooperation in combating securities fraud, whereas cooperative mutual adjustment between the US and the EU is the better course.

**Type.** design  **Support.** argued

**Holds when.**

- cross-border securities fraud enforcement

**Source quote.**

> Exporting and imposing rules through extraterritorial reach, on the other hand, could be counterproductive not only for US diplomacy but also for international cooperation in combating

**From.** Richard W. Painter, Wulf A. Kaal, *Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for* (2010), 4.8. Diplomacy, page 8

**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.** counterproductive-unilateralism  (family: jurisdictional-conflict)

**Topics.** securities-law

**Keywords.** regulatory-cooperation, extraterritoriality, diplomacy, securities-fraud, policy-design

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/1765901-033
- restated_by: https://wulfkaal.github.io/claims/1765901-037

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