Second Circuit Gives U.S. Broad Jurisdiction Under Commodities Exchange Act

Phillips is another in a line of decisions that expansively permit U.S. prosecutions for conduct taking place overseas, while paying little heed to the extra hardships imposed on defendants forced to defend themselves in a foreign courtroom.

10 minute read October 31, 2025 at 11:05 PM
By
Robert J. Anello and Richard F. Albert
Second Circuit Gives U.S. Broad Jurisdiction Under Commodities Exchange Act

“United States law governs domestically but does not rule the world,” according to the Supreme Court. RJR Nabisco, Inc. v. European Cmty., 579 U.S. 325, 335 (2016). The reality will often feel quite different for foreign participants in the financial markets who happen to draw the attention of U.S. prosecutors.

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