extending these requirements to affiliates is overbearing

shea256 / proposed-bitlicense-regulations

The Proposed BitLicense Regulations for The State of New York (Thanks to Patrick Murck for the idea + support to convert this to markdown)

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extending these requirements to affiliates is overbearing #16

Open vogelito opened 9 years ago

vogelito commented 9 years ago

I don't fully understand why it is a requirement for all books etc... to be opened for affiliates...

Maybe someone can explain? Is this at all common in other forms of law? I couldn't really find anything similar to this elsewhere.

pmlaw commented 9 years ago

Yes this is clearly reaching. Corporations should be allowed to isolate legal risk to subsidiaries so long as the subsidiary is properly funded and operated to manage such risk.