Love how the SEC describes ICO promoters compensated for bringing in additional investors as “underwriters.”https://twitter.com/davidgerard/status/1213946446862520321 …
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“You will probably assert that you do not have copies of what your underwriters told investors over DM because they do not have document retention practices equivalent to e.g. Goldman Sachs. The SEC does not perceive this as being *our* problem.”
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(If it is not obvious, these are not quotes from that document, these are vocalizations of the thought process of the SEC as interpreted by yours truly.)
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