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Re: [registrars] WLS as an option - we can't sell these

  • To: Jim Archer <jarcher@xxxxxxxxxxxxxxxxxxx>
  • Subject: Re: [registrars] WLS as an option - we can't sell these
  • From: Mark Jeftovic <markjr@xxxxxxxxxxx>
  • Date: Thu, 7 Aug 2003 17:35:20 -0400 (EDT)
  • Cc: Registrars List <Registrars@xxxxxxxx>, <halloran@xxxxxxxxx>, <twomey@xxxxxxxxx>
  • In-reply-to: <17468428.1060276030@[]>
  • Sender: owner-registrars@xxxxxxxxxxxxxx

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

I've been referring to WLS as a "digital derivative instrument" for


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
> http://www.RegistrationTek.com

Mark Jeftovic <markjr@xxxxxxxxxxx>
Co-founder, easyDNS Technologies Inc.
ph. +1-(416)-535-8672 ext 225
fx. +1-(416)-535-0237

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