4 ms·

Can you explain why an American agency would care about violated EU laws?

• zrm 2y ago
  "Everything is securities fraud." -Matt Levine
• ale42 2y ago
  MS is a publicly traded company. If the company exposes itself to a potential huge fine by wrongdoing on one of their markets, that's totally something the SEC can be interested in.
  • snowpid 2y ago
    is there some cases where that happenend? American public company broke non - American law and the SEC intervened?
    • ale42 2y ago
      I don't know, but from what I've read online, "the antifraud provisions of the federal securities laws apply extraterritorially [...] when the conduct outside the United States had a substantial effect in the United States or upon United States citizens." [1]. Now, if MS receives a huge fine in Europe, it might have an influence on the stock, which might imply losses for US-based investors, and that should be sufficient. Source: [1] https://www.zuckermanlaw.com/sp_faq/sec-enforcement-actions-international-schemes/ https://www.zuckermanlaw.com/sp_faq/sec-enforcement-actions-...
      • snowpid 2y ago
        Thanks!
• deleted 2y ago
  [deleted]