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 "identifier": "kaal:entity:conduct-and-effects-test",
 "name": "Conduct and effects test",
 "termCode": "conduct-and-effects-test",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1664809-003",
   "identifier": "kaal:claim:1664809-003",
   "text": "The Second Circuit's conduct and effect test was too unpredictable, and a clear rule keyed to the location of the securities transaction would be more predictable for issuers and investors.",
   "abstract": "Circuit was too unpredictable. A clear rule focused on the location",
   "citation": "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",
   "datePublished": "2010",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "cases where the location of conduct and the location of the transaction diverge"
   ],
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  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1664809-009",
   "identifier": "kaal:claim:1664809-009",
   "text": "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.",
   "abstract": "statutory language in section 7216 is arguably broader than the",
   "citation": "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",
   "datePublished": "2010",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "comparison of section 7216 language with existing Second Circuit doctrine"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1765901-002",
   "identifier": "kaal:claim:1765901-002",
   "text": "Before Morrison, U.S. courts refused to adopt a bright line rule for the extraterritorial reach of Section 10(b), and the resulting case by case conduct and effects analysis was applied inconsistently.",
   "abstract": "U.S. courts had avoided a bright line rule for determining which cases can be litigated in U.S. courts and which cannot. As a result, U.S, courts applied the conduct and effects tests inconsistently'.",
   "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",
   "datePublished": "2011",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "pre-Morrison case law",
    "foreign-cubed securities litigation"
   ],
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   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'conduct-and-effects-test'. Derived node: a roster, not an adjudicated definition."
}