Reconsidering Extraterritorial Application From Recent Cases of Financial Laws

2017 Fiscal Year Final Research Report

• Project/Area Number: 25380065
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: International law
• Research Institution: Waseda University
• Principal Investigator: KUBOTA TAKASHI 早稲田大学, 法学学術院(法務研究科・法務教育研究センター), 教授 (50311709)
• Project Period (FY): 2013-04-01 – 2018-03-31
• Keywords: 域外適用 / 金融制裁

Outline of Final Research Achievements

According to the international law principle, the Territoriality principle basically governs and extraterritorial application of national laws are applied only exceptionally. However, the U.S. laws, especially in the area of financial sanctions and anti-foreign corruptions though federal courts are sometimes reluctant, have been active to extend their legal reach from their territory. This study focuses on this recent trends on financial sanctions, and considers not only legal theories but also the financial market changes. My conclusion is that legal solution is not enough to solve the issue, and the key is to focus on the interdependent and reciprocal nature of international financial system, and create effective trade mechanism.

Free Research Field

国際金融法