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Published online by Cambridge University Press: 01 January 2021
Jurisdiction — Subject-matter jurisdiction — Extraterritoriality — Merits — Relationship of international law and municipal law — United States domestic law — Securities regulations — Securities Exchange Act 1934 — Section 10(b) — Section 30 — Rule 10b-5 — Conflict of laws — Causes of action — Whether Securities Exchange Act anti-fraud provisions providing cause of action in relation to misconduct connected with securities traded on foreign exchanges — Presumption against extraterritorial application of statutes — Rebuttal of presumption against extraterritorial application — Whether clear congressional intent for extraterritorial application required to rebut presumption — Whether generic terms such as “interstate commerce” insufficient to connote intended extraterritorial application — Whether abrogation of Second Circuit effects and conduct tests appropriate — The law of the United States