[capaxess]

What the SEC and Dept of Finance has been angling for is that syndication through multiple sources, ESPECIALLY individuals, constitutes a sale of securities to unsophisticated investors. Once you have enough "investors" tallied, you need to register as a investment fund & are therefore bound by their rules and regulations. Write these agencies off if you want, but they will keep coming, and then join forces with local DAs....until they get you

Yea, just like they got what they wanted by regulating the OTC derivatives market, puh-lease. They will go after only low hanging fruit that doesn't resist their arbitrary encroachment. Their M.O. is always the same, they only go after those who compete with their paymasters; the banks.