{
 "@context": "https://schema.org",
 "@type": "Claim",
 "@id": "https://wulfkaal.github.io/claims/1765901-016",
 "identifier": "kaal:claim:1765901-016",
 "text": "Treating the U.S. location of a broker as making the securities purchase domestic would circumvent most of the Morrison holding, since a foreign buyer of foreign securities could invoke U.S. law simply by routing the order through a U.S. broker.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
 },
 "citation": "Kaal and Painter, The Aftermath of Morrison v. National Australia Bank and Elliott Associates v. Porsche (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1765901",
 "isBasedOn": {
  "@type": "ScholarlyArticle",
  "name": "The Aftermath of Morrison v. National Australia Bank and Elliott Associates v. Porsche",
  "datePublished": "2011",
  "url": "https://ssrn.com/abstract=1765901",
  "sha256": "7b08b8a15f7d72b4eeed41be2d17c20428cb4727269077a6575c5d22e31ecdc5",
  "encoding": "https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Painter%20-%202011%20-%20The%20Aftermath%20of%20Morrison%20v.%20National%20Australia%20Bank%20and%20Elliott%20Associates%20v.%20Porsche.pdf"
 },
 "keywords": [
  "regulatory-failure"
 ],
 "about": [
  "broker-location",
  "transaction-location",
  "morrison",
  "circumvention"
 ],
 "abstract": "The U.S. broker places the order based on an order from a foreign client, and U.S. securities law arguably would apply to the securities purchase, even if executed on a non-US. exchange. This line of argument would circum- vent most of the holding in Morrison.",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "claim_type",
   "value": "failure"
  },
  {
   "@type": "PropertyValue",
   "name": "confidence",
   "value": "argued"
  },
  {
   "@type": "PropertyValue",
   "name": "scope_conditions",
   "value": [
    "orders placed through U.S. brokers for execution on foreign exchanges"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "is_failure_mode",
   "value": true
  },
  {
   "@type": "PropertyValue",
   "name": "attestations",
   "value": "https://wulfkaal.github.io/colloquium/attestations/84dec0aeea32ad93bfdf4ee8874f53543c22d8af6275431d0320c132c5bb4591.json"
  },
  {
   "@type": "PropertyValue",
   "name": "edges",
   "value": []
  }
 ],
 "isPartOf": {
  "@id": "https://wulfkaal.github.io/claims/index.json"
 },
 "dateModified": "2026-07-27",
 "version": "1.0",
 "sha256": "84dec0aeea32ad93bfdf4ee8874f53543c22d8af6275431d0320c132c5bb4591",
 "canonicalForm": "https://wulfkaal.github.io/claims/1765901-016.md"
}