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Yay! New Laws for Crowdfunding!

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Renegade:
We do?


--- Code: C++ ---int TravelToEndOfRainbow(double);  // Cash level management Function (note: 'L' if function name is silent):float ElfinMagic(double iWallet) {    if(iWallet <= 0) {       TravelToEndOfRainbow(iWallet);   }} // This is a secure function - Not for public viewing:int TravelToEndOfRainbow(double iNeed) {  if(!PrintMoreMoney(iNeed)) {     InvadeNextRainbow(dwAnyExcuse);  }}-Stoic Joker (October 27, 2013, 08:10 AM)
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Well, normally, yes. The code we've seen so far here reflects government client requirements. That doesn't count! Really. This is the code for it:


--- Code: C# ---public static overrides int operator +(int a, int b){    Random random = new Random();    return random.Next(int.MinValue, int.MaxValue);}
That compiles on government machines. :P

Stoic Joker:

--- Code: C# ---public static overrides int operator +(int a, int b){    Random random = new Random();    return random.Next(int.MinValue, int.MaxValue);}
That compiles on government machines. :P
-Renegade (October 27, 2013, 11:39 AM)
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Like hell it will. You try to compile that on a government machine and the debugger will explode. Good god man ... You're trying to return a value?!? That kind of behavior is just not tolerated in government! ...They never return anything.

tomos:
^I could say regulate the banks,
but I guess you could come back with bitcoin or silver/gold :P
-tomos (October 26, 2013, 01:23 PM)
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They are already heavily regulated.-Renegade (October 26, 2013, 09:43 PM)
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cant let that part of your response go:
yes, naturally, it's the *type* of regulation that's important!  I meant the type of regulation that I believe started disappearing with Reagan....

wraith808:
But back to the issue at hand:

There's a better (IMO) breakdown on Forbes.  Specifically:


* Crowdfunding caps an amount an issuer can raise to $1 million in any 12-month period.
* Crowdfunding caps the amount a person can invest in all crowdfundings over a 12-month period at 10% of annual income or net worth (incomes of $100,000 or more) or the greater of $2,000 or 5% of annual income or net worth (incomes of less than $100,000).
* Crowdfunding must be done through a registered broker-dealer or registered “funding portal.” Broker-dealers and funding portals may not solicit investments, offer investment advice or compensate employees based on sales. Traditional investment banks have shown little interest in crowdfunding, leading to speculation that crowdfunding will be facilitated by lesser-known financial institutions with little or no retail investment track record.
* Crowdfunding requires a disclosure document to be filed with the SEC at least 21 days prior to first sale, and requires scaled financial disclosure, including audited financial statements for raises of over $500,000.
* Unlike Regulation D Rule 506 private placements to accredited investors following the JOBS Act, crowdfunding does not allow advertising except solely to direct investors to the appropriate broker/funding portal.
* Annual reports must be filed with the SEC by a company which completes a crowdfunding round.
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These rules are specifically about control, not fraud.  In fact, there's nothing in there to do anything with fraud, other than limit the amount that an individual project can bilk people for.  In the meantime, it puts a burden that the smaller companies can't even afford to take on for the amounts of money we're talking about, and there are no exemptions.

I might be reading that wrong... but it appears that Forbes agrees with that take on it.

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