Volume 51 (2014) / Issue 5
The established triggers for application of EU law - conduct, nationality and presence - are being supplemented by novel "extraterritorial" triggers that cause EU legislation to apply to conduct that occurs abroad. This is apparent in the area of financial regulation. EU legislation that relies on such triggers is neither self-evidently territorial nor extraterritorial, and it remains unclear whether it is consistent with the territorial principle of jurisdiction. Nonetheless, this legislation also usually includes "safety valves" in a bid to prevent jurisdictional over-reach and to facilitate cooperation between States. These safety valves should be viewed as of significance in assessing the legality of EU legislation that incorporates novel "extraterritorial" triggers.
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