The regularized theories are non-local at the scale of the cutoff, leading so
to the usual difficulties of non-local theories. In this work the conservation
laws and causality are investigated for theories with multi-cluster action. The
conservation laws are found to play a less significant role than in local
theories because due to the non-locality the conserved quantities are not
integrals of the motion, and they can exist even without underlying symmetries.
Moreover, the conservation of the energy can not prevent instability brought
about by the unbounded nature of the energy from below. Thereby a sufficient
condition of stability gets lost. Theories, obtained by appropriate point
splitting of local interactions are shown to be causal.