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The Extraterritorial Application Of U.S. Securities Fraud Prohibitions In An Increasingly Global Transactional World, Joan Macleod Heminway
The Extraterritorial Application Of U.S. Securities Fraud Prohibitions In An Increasingly Global Transactional World, Joan Macleod Heminway
Scholarly Works
This draft working paper, prepared for a French academic forum entitled “American Law Today: Identity, Mutations, and Debate,” is a brief essay on the current and potential future extraterritorial reach of Section 10(b) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 adopted by the U.S. Securities and Exchange Commission under Section 10(b). The essay does three principal things. First, it summarizes the key antifraud rules in context. Next, it describes (in brief) the history and current state of the academic and political debate on the extraterritoriality of Section 10(b) and Rule 10b-5 (including commentary on the …