【摘要】 为了加强监管,规制跨国证券行为,保护投资者利益和维护证券市场的稳定、有序与公平,美国将本国经济法的域外适用从反托拉斯法扩大到证券法领域,产生了倍受争议的证券法域外适用问题。在“领域管辖原则”的基础上发展起来的“效果标准”和“行为标准”,奠定了美国证券法域外管辖权的基础,成为证券法域外适用的主要理论依据。一国证券法域外适用是证券市场国际化发展的必然结果,有其产生和存在的必然基础和条件,不能忽视也不可回避。更多还原

【Abstract】 The USA broadened the extraterritorial application of economic laws from the anti-trust law to the securities law in order to strengthen regulation and protect the investor’s benefits and maintain the stabilization, order and fair of the securities market.However it brings about the disputed question of the extraterritorial application of the securities laws.In the justice practices,the "effect test" and the "conduct test" are the cores the extraterritorial application of the securities laws,which become the legal and theoretical bases.The extraterritorial application of the securities laws is the inevitable outcome of the securities market internationalization.It has its own basis and conditions for its existence.更多还原