This Note examines the extent to which the corporate mismanagement sphere of Rule 10b-5 may be applied extraterritorially to the internal regulation of offshore investment funds. Part I analyzes the policies behind the assertion of subject matter jurisdiction under international law and illustrates that the jurisdictional policies prescribed by international law do not support such an expansionist view of the Securities Exchange Act of 193415 ('34 Act). Part II focuses on the Congressional intent behind the '34 Act and addresses the issue whether the '34 Act was to have extraterritorial application and to be a vehicle for the regulation of offshore investment funds. Part III discusses and analyzes the application of Rule 10b-5 to the regulation of offshore investment funds and examines cases involving extraterritorial application of Rule 10b-5.
Franca A. Franz,
Offshore Funds and Rule 10b-5: An International Law Approach to Extraterritorial Jurisdiction Under the Securities Exchange Act of 1934,
8 Fordham Int'l L.J. 396
Available at: https://ir.lawnet.fordham.edu/ilj/vol8/iss3/3