Law360, New York ( May 10, 2012, 12:49 PM EDT) -- In Morrison v. National Australia Bank Ltd., the U.S. Supreme Court sharply restricted the extraterritorial applicability of the anti-fraud provisions of the securities laws. Morrison held that § 10(b) of the Securities Exchange Act of 1934 (the Exchange Act) only applies to "transactions in securities listed on domestic exchanges and domestic transactions in other securities."[1]...
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