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Part IV The International Dimension: New Challenges, 15 Extraterritorial Reach of the US Financial Laws

James Cox

From: Financial Regulation and Supervision: A post-crisis analysis

Edited By: Eddy Wymeersch, Klaus J Hopt, Guido Ferrarini

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 25 January 2022

Subject(s):
Federal Deposit Insurance Corporation (FDIC) — Securities and Exchange Commission (SEC) — Financial regulation
15.01 Access to justice is a central feature of American jurisprudence. We not only embrace the class action but we feed its actors, and well, with not only contingency fee arrangements but insulate the suits from the burdens of the loser pay rule that prevails outside the United States. It is, therefore, not surprising that enterprising US attorneys and swindled foreign investors had joined in pushing their way into US courts for recompense for their investment losses. This chapter of American jurisprudence ended in June 2010 with the decision in Morrison v...
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