[ppml] Policy Proposal 2008-2: IPv4 Transfer Policy Proposal

[michael.dillon at bt.com]

> IP address blocks are not being bought or sold.  The services 
> provided by ARIN are being transferred from one party to 
> another for monetary consideration.

Precisely my point. It is a contract or agreement that is being
sold and that is exactly what a lot of financial instruments
are based on such as derivatives, reinsurance, and factoring.
If these are deemed to be financial instruments, then the laws
covering SEC jurisdiction would apply, which then leads to the
necessity of complying with SEC regulations.

> Specific to your question about SEC (or other) regulation, I 
> don't believe it has been raised as a concern with the way 
> the current policy is drafted.  There is a generic concern 
> that any change in policy may prompt /new/ government 
> regulation in the realm of IP Resources but I don't think 
> there's a feeling any of the current regulations would 
> magically apply if this policy were to pass.

I don't have any concern whatsoever about /new/ government
regulation in this area because the USG is just not interested
in extending regulation to Internet stuff if they can avoid it.

What I am worried about is that existing laws, and existing
regulatory regimes may come into play if ARIN steps across 
certain boundaries. This would require no action at all on
the part of the USG, legislators or the SEC. If you decide 
to set up a website selling stocks, then you have chosen to
operate in a regulated field of activity and are required to
follow all the regulations and laws that apply to that field 
of activity.

--Michael Dillon