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Outline
 Introduction: Who Am I? (Dave)
 The JOBS Act
    - Background: History of Securities Regulation
    - The JOBS Act in the Process of De-Regulation

 Fraud: Who Can We Trust?
 WhenYouWish.com.br
What is a security?
The oldest stock in the world, issued by the Dutch East India
Company (Vereenigde Oost-Indische Compagnie or VOC), 1606.
PROBABLY   Taxes?


What is not a security?
With stocks comes…



bolhas especulativas
$50 Billion       $905 Billion


Reg D Offerings are also known as “Private Placements”
US$905Bln




http://www.sec.gov/info/smallbus/acsec/acsec103111_analysis-reg-d-offering.pdf
http://www.sec.gov/info/smallbus/acsec/acsec103111_analysis-reg-d-offering.pdf
When Enacted in 1982, Reg D was Met
 With a Lot of Criticism -- Still Today




http://www.wcl.american.edu/journal/lawrev/33/warren.pdf
http://www.sec-oig.gov/Reports/AuditsInspections/2009/459.pdf
Reg D Focuses on
“Accredited Investors”
  Net worth of at least one million US
dollars, not including the value of one's
primary residence

OR

  Have made at least $200,000 each year for
the last two years (or $300,000 together
with his or her spouse if married) and have
the expectation to make the same amount
this year.
http://www.crowdfunder.com/crowdfunding-law
http://www.forbes.com/sites/wendytanaka/2011/01/06/facebook-to-breach-500-shareholder-limit-go-public-in-2012/
http://www.rollingstone.com/
politics/blogs/taibblog
Brasil Deregulation/Opening Securities
Markets
Considerations:
 “Accredited Investor” vs. Crowdfunding

  Paternalism/Safeguarding the Public
                     vs.
                     Financial Democratic
Freedom


But - Safeguarding the Public From
Fraud

詐欺
        frode
http://www.nytimes.com/2011/11/08/business/in-sec-fraud-cases-banks-make-and-break-promises.html?pagewanted=all
We can’t trust the
banks.
We can’t trust the
government.
Who can we trust?

If you think about it, we
have no other choice…
http://www.slashgear.com/kickstarter-scam-mythic-pulled-down-no-money-exchanges-hands-04226345/
Trust each other.
consciouscapitalism.org
Obrigado!

Dave@WhenYouWish.com

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Editor's Notes

  1. As soon as there were stocks, there was government regulation.
  2. As soon as there were stocks, there was government regulation.
  3. As soon as there were stocks, there was government regulation.
  4. The