{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/second-circuit",
 "identifier": "kaal:entity:second-circuit",
 "name": "Second circuit",
 "termCode": "second-circuit",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/second-circuit.md",
 "sha256": "ede06fd3db4dc91aa69306ab45fe2e1fdc94f9f4933a4683284dcc79f1e57574",
 "additionalProperty": [
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   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 2
  },
  {
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  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2010",
    "2010"
   ]
  },
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   "name": "non_current_claims",
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1664809-001",
   "identifier": "kaal:claim:1664809-001",
   "text": "In securities regulation the SEC has continuously expanded its extraterritorial reach, and it has done so with strong support from the judiciary, most notably the Second Circuit Court of Appeals.",
   "abstract": "the SEC has continuously expanded its extraterritorial reach",
   "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": "empirical",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [],
   "source_pdf_sha256": "2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20",
   "status": "current"
  },
  {
   "@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"
   ],
   "source_pdf_sha256": "2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'second-circuit'. Derived node: a roster, not an adjudicated definition."
}