The New EU 'Extraterritoriality'

Résumé du livre

In EU law, the established triggers of conduct, nationality and presence are being supplemented by novel 'extraterritorial' triggers that cause EU legislation to apply to conduct that occurs abroad. This is evident in the area of financial regulation. EU legislation that relies upon 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 incorporating novel 'extraterritorial' triggers. Seen from this perspective, the EU's proposal for a financial transaction tax seems flawed.