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That's completely irrelevant. It's not the job of the SEC to guide companies/people on what constitutes securities. Their job is to bring enforcement action if
by martin8412 3y ago
That's completely irrelevant. It's not the job of the SEC to guide companies/people on what constitutes securities. Their job is to bring enforcement action if they believe the law is being broken.
If you want legal advice, get a lawyer. If you don't want an expensive court case to determine who is in the right, don't do business in areas without established case law.
- cft 3y agoUSA was doing very well before FTC was created in 1914. In fact, most of American wealth that the US has been riding on, was accumulated before then. Airplane, Ford Model T, etc where all created before then.
- matthews2 3y agoAirplane was released in 1980.
- scottiebarnes 3y ago> It's not the job of the SEC to guide companies/people on what constitutes securities Which government agency fulfills that role?
- growse 3y agoThe judiciary. See the Howey test.
- scottiebarnes 3y agoI guess the judiciary system will eventually rule on what is legal / not legal via a legal contest, but courts are not actively informing and guiding American companies on what the rules are. Seems like there should be an agency that does? Furthermore, the SEC does seem to fulfill some of this role, ie. registering securities.
- growse 3y ago> but courts are not actively informing and guiding American companies on what the rules are. Isn't this what lawyers are for?
- scottiebarnes 3y agoGuess that's how the world works then; do something until the government sues you, go to court and set precedent. Seems a bit inefficient. Or maybe its the most efficient path after all.
- deleted 3y ago[deleted]