The U.S. Securities and Exchange Commission seeks to regulate non-U.S. domiciled financial firms when U.S. investors' interests are affected. In 2010, in Morrison v. National Australia Bank, the U.S. Supreme Court narrowed the circumstances when extraterritorial regulation is appropriate....

Section 913 of the Dodd-Frank Act requires the U.S. Securities and Exchange Commission to conduct a study regarding gaps or deficiencies in the regulation of broker-dealers and investment advisers. These firms often perform similar functions but are regulated differently under an antiquated...