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“Banclist.com is probably the most lucrative direct messaging platform”

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Re: “Banclist.com is probably the most lucrative direct messaging platform”

#71

Post by CriticalCathed »

wmil wrote: post #31
hirundo wrote: post #6

> Thus BancList (spelling absolutely intentional, because even the K is regulated and I am absolutely not joking about that fact). No, he's not joking. Even the font size is regulated. I ran into that as an employee of a commodities trader. I'm not sure if the choice of font is regulated but it wouldn't be surprising.

A bit of a tangent, but in Canada "financial advisers" are regulated and required to act in the customers interests. So naturally banks will connect you to "financial advisors" (unregulated) to buy products. https://www.cbc.ca/news/business/marketplace-watchdog-advise...

That seems like it ought to be illegal. It's an obvious skirting of the law. I doubt this is true, and if it is I can't even begin to imagine the number of things this "loophole" would affect.

Re: “Banclist.com is probably the most lucrative direct messaging platform”

#72

Post by benj111 »

mdpopescu wrote: post #67
benj111 wrote: post #10

Earlier quoted context omitted.

I'm guessing font size regs are to prevent "RISK FREE INVESTMENT, (investment not risk free)" type things? That seems sensible. I can see there being rules for italics etc for similar reasons.

Wouldn't it be much less game-able to forbid LYING in a document, as understood by the elusive man-in-the-street? Seriously: to judge a contract in case of a conflict, pick 12 people from the street and ask them to summarize it. Go with what they wrote. Going to "experts" when deciding language is what created the current mess, sticking to them is not going to solve it.

Most of time it isn't about lying, its about small print hidden in the document.

Legal text is often opaque to laymen because it has specific legal meaning, plain commonly understood language doesn't have specific meanings so you get into situations where even the lawyers aren't sure how it should be interpreted.

To use a tech analogy, the lawyerese is the source code, if you want the ultimate truth, go there, you should be pairing it with adequate documentation though.

Re: “Banclist.com is probably the most lucrative direct messaging platform”

#73

Post by _1tan »

javert wrote: post #57
staunch wrote: post #41

Seems like we're missing a "StocList" for buying/selling shares in private companies. There are some "secondary market" services. But (IIRC) they all take a hefty cut from both parties, have zero transparency, act as an intermediary, have high minimum transactions, etc. Seems like accredited investors and private company stock owners should be able to make deals directly. Someone get on it!

> There are some "secondary market" services. But (IIRC) they all take a hefty cut from both parties, have zero transparency, act as an intermediary, have high minimum transactions, etc. Does anyone know of any such services that are reputable and worth using? Even if it's expensive. Kind of to be expected in that field.

A few are mentioned here: https://www.holloway.com/g/equity-compensation/sections/can-....

Re: “Banclist.com is probably the most lucrative direct messaging platform”

#74

Post by GordonS »

tryptophan wrote: post #15

This is an example of what happens when a field is over-regulated. You have these obtuse solutions working around a problem that is only hard because of lawyers and 500 regulations to "protect investors". People were able to hack together exchanges for crypto-coins. The only thing that stands in the way of doing this for private stock/tiny companies is excessive regulation. I'm not saying we want the whole crypto exp…

> People were able to hack together exchanges for crypto-coins

Come on now, crypto exchanges are absolutely now a good example to use here - how many millions has been lost through exchanges getting hacked?!

Re: “Banclist.com is probably the most lucrative direct messaging platform”

#75

Post by delinka »

benj111 wrote: post #72
mdpopescu wrote: post #67

Earlier quoted context omitted.

Wouldn't it be much less game-able to forbid LYING in a document, as understood by the elusive man-in-the-street? Seriously: to judge a contract in case of a conflict, pick 12 people from the street and ask them to summarize it. Go with what they wrote. Going to "experts" when deciding language is what created the current mess, sticking to them is not going to solve it.

Most of time it isn't about lying, its about small print hidden in the document. Legal text is often opaque to laymen because it has specific legal meaning, plain commonly understood language doesn't have specific meanings so you get into situations where even the lawyers aren't sure how it should be interpreted. To use a tech analogy, the lawyerese is the source code, if you want the ultimate truth, go there, you sh…

>...the lawyerese is the source code...

Inasmuch as that's even possible, yes. The problem is that even this "language" is open to interpretation by courts.

Re: “Banclist.com is probably the most lucrative direct messaging platform”

#76

Post by javert »

_1tan wrote: post #73
javert wrote: post #57

Earlier quoted context omitted.

> There are some "secondary market" services. But (IIRC) they all take a hefty cut from both parties, have zero transparency, act as an intermediary, have high minimum transactions, etc. Does anyone know of any such services that are reputable and worth using? Even if it's expensive. Kind of to be expected in that field.

A few are mentioned here: https://www.holloway.com/g/equity-compensation/sections/can-... .

Cool!

Re: “Banclist.com is probably the most lucrative direct messaging platform”

#77

Post by _1tan »

javert wrote: post #76
_1tan wrote: post #73

Earlier quoted context omitted.

A few are mentioned here: https://www.holloway.com/g/equity-compensation/sections/can-... .

Cool!

There is also https://carta.com/ which eventually thrives to become a private market: https://techcrunch.com/2019/05/06/carta-was-just-valued-at-1....
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