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Rescinded due to the Commercial Standards Act.
A
BILL
To
Protect Investors
The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
(1) This Act may be cited as the “The Pugbandit Anti Scam act”
(2) This Act shall be enacted immediately upon its signage.
(3) This Bill was written by Senator pugbandit
2 - Purpose
(1) After DC Investment Banking scammed numerous people’s wealth it is clear more protection must be given to investors.
3- Action
(1) The DEC must mark businesses which act as banks or investment services- and classify them as such upon registration.
(2) All of such marked companies must provide transparent documentation of all spending, deposits and withdrawals to the DEC and updates on the total amount the company has.
(3) If company fails to do this the DEC will give them a warning, if it still continues then the company faces deregistration, assets may be ceased, deposits and investments must be returned upon the DEC presenting evidence of failure of compliance to the courts and the courts ruling in the DEC’s favor.
(4) The DEC may manage its own way to keep track of these marked businesses.
(5) The DEC should conduct monthly audits of such companies and publish these reports to the general public (specifically should be released to users of the service)
(6) The DEC must ensure that these services have the following:
a) Active leadership
b) Proper transparency
c) Not breaking laws and regulations
(7) For a service that acts as a bank or investment service (marked by DEC) To invest a client/customers funds they must at all times retain 50% of the amount they wish to invest available for withdrawel. This to prevent a complete loss of a customers money on the market. Stock traders exempt from this rule
A
BILL
To
Protect Investors
The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
(1) This Act may be cited as the “The Pugbandit Anti Scam act”
(2) This Act shall be enacted immediately upon its signage.
(3) This Bill was written by Senator pugbandit
2 - Purpose
(1) After DC Investment Banking scammed numerous people’s wealth it is clear more protection must be given to investors.
3- Action
(1) The DEC must mark businesses which act as banks or investment services- and classify them as such upon registration.
(2) All of such marked companies must provide transparent documentation of all spending, deposits and withdrawals to the DEC and updates on the total amount the company has.
(3) If company fails to do this the DEC will give them a warning, if it still continues then the company faces deregistration, assets may be ceased, deposits and investments must be returned upon the DEC presenting evidence of failure of compliance to the courts and the courts ruling in the DEC’s favor.
(4) The DEC may manage its own way to keep track of these marked businesses.
(5) The DEC should conduct monthly audits of such companies and publish these reports to the general public (specifically should be released to users of the service)
(6) The DEC must ensure that these services have the following:
a) Active leadership
b) Proper transparency
c) Not breaking laws and regulations
(7) For a service that acts as a bank or investment service (marked by DEC) To invest a client/customers funds they must at all times retain 50% of the amount they wish to invest available for withdrawel. This to prevent a complete loss of a customers money on the market. Stock traders exempt from this rule
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