in your grandparent post, you are still linking the Federal Reserve's deposit insurance regulation, while talking about the Securities Exchange Commission's exe

in your grandparent post, you are still linking the Federal Reserve's deposit insurance regulation, while talking about the Securities Exchange Commission's exempt securities offering regulation. I still find that entertaining, let me help you https://www.sec.gov/fast-answers/answers-regdhtm.html https://www.sec.gov/fast-answers/answers-regdhtm.html Classic strawman, I wasn't claiming Regulation D required anyone to be a broker dealer to issue buy or sell an exempt unregistered security. The claim is that reselling it freely requires you to go through or be a broker dealer, unless all buyers are accredited investors.