OK, so violating securities laws constitutes a violation of SI's Terms of Use. But SI cannot be the appropriate party to enforce securities laws.
If I am reading this correctly, and correct me if I am wrong, it's OK to break the law on Silicon Investor as long as Silicon Investor is not aware of it. That's an interesting point of view, to say the least.
If I point out a potential offender, then what? You see my point here?
Let's take a case in point. A guy starts about 6 threads for two different stocks. He pumps his site, which is a PR site, and his site has this rather lame disclaimer that he collects money for hyping stocks.
Here is the law. You can read it yourself:
It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by the use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof.
law.uc.edu
Now, the part that I think is applicable here is:
...without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof...
So, you tell me. This guy started three threads for this company that got erased because he was spamming. But he's back. Here is the latest thread, and here is the dude's profile. You tell me if you think this dude might be breaking federal law, and you tell me that's fine, Silicon Investor has no problem with this at all, he's cool on the Terms of Use, no problem, the members of the site don't have a problem with this dude, and I will shut up forever about this.
Subject 36380
Member 1487223 |
