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Extraterritoriality Rules Securities and Exchange Commission (SEC) Appeals

Seward & Kissel LLP

Home is Where Your Server Is?

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On March 8, 2024, the U.S. Court of Appeals for the Second Circuit reversed and remanded a District Court decision that dismissed all claims by plaintiff crypto investors against Binance, an international electronic exchange...more

White & Case LLP

United States v. Hoskins & Scoville v. SEC: DOJ & SEC extend their extraterritorial reach for FCPA & securities fraud charges

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The SEC and DOJ recently received positive news in two enforcement actions that had been challenged on grounds of extraterritoriality. These cases illustrate the ongoing judicial efforts to define the extraterritorial reach...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - September 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more

A&O Shearman

Tenth Circuit Holds That Dodd-Frank Act Granted SEC Extraterritorial Authority

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On January 24, 2019, the United States Court of Appeals for the Tenth Circuit affirmed a decision by the United States District Court for the District of Utah holding that the Dodd-Frank Act of 2010 grants the Securities and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - January 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more

A&O Shearman

SEC Charges Rating Agency With Internal Controls Failures And Ratings Symbols Deficiencies

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On August 28, 2018, the Securities and Exchange Commission (“SEC”) announced two settlements with a rating agency (the “Company”) over allegations that it failed to maintain adequate internal controls and to clearly define...more

Skadden, Arps, Slate, Meagher & Flom LLP

Second Circuit Curtails Use of Conspiracy and Complicity Statutes in FCPA Actions

In a decision with implications for the extraterritorial reach of the Foreign Corrupt Practices Act (FCPA), the U.S. Court of Appeals for the Second Circuit held in United States v. Hoskins that a person may not “be guilty as...more

Jones Day

Second Circuit Rejects DOJ's Attempt to Expand Reach of the FCPA

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The Situation: In United States v. Hoskins, the United States Department of Justice ("DOJ") charged a foreign national who worked in France for a British subsidiary of a French company with conspiring to violate the Foreign...more

Dechert LLP

Second Circuit Limits FCPA’s Extraterritorial Reach Over Non-U.S. Persons in Conspiracy and Aiding and Abetting Cases

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The United States Court of Appeals for the Second Circuit dealt a blow to the U.S. government’s extraterritorial enforcement power on Friday, August 24, 2018, in prosecuting alleged violations of the Foreign Corrupt Practices...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The Sixth Circuit last week concluded that Morrison, which held that Section 10(b) does not have extraterritorial reach, is inapplicable to Advisers Act Section 10(b). The DC Circuit, on rehearing, reaffirmed its prior...more

Proskauer Rose LLP

Second Circuit Narrows Reach of Federal Securities Laws as to Foreign Securities Transactions

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On May 6, 2014, the U.S. Court of Appeals for the Second Circuit issued a decision clarifying the applicability of the anti-fraud provisions of the Securities Exchange Act of 1934 to transactions in foreign securities. The...more

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