US courts restrict territorial reach of Commodity Exchange Act

Recent cases make it harder to pursue instances of overseas misconduct

US courts have recently taken a more restrictive view of the overseas reach of US derivatives law, something that is likely to hamper anti-manipulation claims in US courts and could even dampen the overseas investigations of the Commodity Futures Trading Commission (CFTC), say lawyers.

“There’s been some very significant developments in US case history recently, and an emerging doctrine that may make it harder to bring cases to US courts that involve alleged misconduct in overseas markets,

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