---
kind: "section"
citation: "17 C.F.R. § 250.1"
title: "17"
number: "250.1"
heading: "Cross-border antifraud law-enforcement authority."
url: "https://uscodex.org/cfr/17/250.1"
---

# §250.1. Cross-border antifraud law-enforcement authority.

- (a) Notwithstanding any other Commission rule or regulation, the antifraud provisions of the securities laws apply to:
  - (1) Conduct within the United States that constitutes significant steps in furtherance of the violation; or
  - (2) Conduct occurring outside the United States that has a foreseeable substantial effect within the United States.
- (b) The antifraud provisions of the securities laws apply to conduct described in [paragraph (a)(1)](#a-1) of this section even if:
  - (1) The violation relates to a securities transaction or securities transactions occurring outside the United States that involves only foreign investors; or
  - (2) **The violation is committed by a foreign adviser and involves only foreign investors.**
- (c) Violations of the antifraud provisions of the securities laws described in this section may be pursued in judicial proceedings brought by the Commission or the United States.

## Notes

### Authority

Authority: 15 U.S.C. 77s, 77v(c), 78w, 78aa(b), 80b-11, and 80b-14(b).

### Source

Source: 79 FR 47372, Aug. 12, 2014, unless otherwise noted.