[registrars] WLS as an option - we can't sell these
Mark Jeftovic
markjr at easydns.com
Thu Aug 7 21:35:20 UTC 2003
Your concern may not be very far-fetched at all. Anyone who had to
shell out refunds for the .BIZ landrush lottery can see the
parallels.
I've been referring to WLS as a "digital derivative instrument" for
awhile.
-mark
On Thu, 7 Aug 2003, Jim Archer wrote:
> Hi All...
>
> Just a reminder to everyone that a wait, as currently described, sounds
> quite a bit like an "option." In fact, in Montreal, Bruce Tonkin actually
> suggested that I describe it to my customers as such.
>
> In the US, as in Australia and most countries, the sale of commodities,
> futures, options and so on is regulated. The unlicensed sale of
> commodities is prohibited.
>
> During the .BIZ rollout, almost all registrars were quite surprised to
> discover that they can't sell lottery tickets. Gee, big shock, hua? I
> don't have any idea why this surprised anyone. It was immediately clear to
> us that we could not sell lottery tickets and so we didn't.
>
> Don't be surprised if, when you start selling waits, the SEC or other
> appropriate regulatory agency contacts you, or if some entity sues you.
> Everyone here can pretend all they want that there are no legal issues with
> selling waits. Maybe you'll be lucky and no one will call you on it.
> Maybe no one will sue or investigate. Maybe it is entirely legal. Who
> knows? Just answering the questions could be enough to put people out of
> business. But the lawyers will do well spending your money.
>
> You have been warned.
>
> Jim
>
> *************************
> James W. Archer
> CEO
> http://www.RegistrationTek.com
>
--
Mark Jeftovic <markjr at easydns.com>
Co-founder, easyDNS Technologies Inc.
ph. +1-(416)-535-8672 ext 225
fx. +1-(416)-535-0237
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