Non-US companies have been warned there is an increased risk of enforcement action against them from the US's the Tenth Circuit (SEC). The warning came in an article in the Banking Law Journal following a ruling made earlier this year by the Court of Appeals for Securities and Exchange Commission in SEC v Scoville, which seemingly bolstered the regulator's extraterritorial enforcement authority under the Dodd-Frank Act. "One risk created… is that purely foreign transactions, which arguably influence the price of securities traded on United States exchanges, may be the subject of SEC enforcement actions", the article noted.
Non-US companies have been warned there is an increased risk of enforcement action against them from the US's Securities and Exchange Commission (SEC). The warning came in an article in the Banking Law Journal following a ruling made earlier this year by the Court of Appeals for the Tenth Circuit in SEC v Scoville, which seemingly bolstered the regulator's extraterritorial enforcement authority under the Dodd-Frank Act. "One risk created… is that purely foreign transactions, which arguably influence the price of securities traded on United States exchanges, may be the subject of SEC enforcement actions", the article noted.