The Clearing House (TCH) joined SIFMA in a letter opposing a bill introduced in the New York State legislature that would generally subject out-of-state business organizations that apply for the authority “to do business” in the State of New York to the general (all-purpose) jurisdiction of New York State courts. The bill was introduced in response to a SCOTUS ruling, in Daimler AG v. Bauman, 134 S.Ct 746 (2014), which held that an out-of-state business simply “doing business” in another state failed to satisfy the necessary due process requirement to subject a corporation to general jurisdiction in that state’s courts. The letter argues that the proposed legislation would give rise to the same constitutional due process issues that the SCOTUS addressed in its Daimler decision.