Neteller Update...

[Sniper]

[ QUOTE ]
for those that understand the market better than i.

neteller should be looking for a buyer in a 'e-gambling welcome' country right now, right?

[/ QUOTE ]

Why?

I expect you will find that the large Neteller shareholders would all tell you that they would rather have Neteller profit from its non-US business operting legally, than have to deal with the litigation costs and reputation blow of operating illegally; even though that means lower revenue/profits.

This is in fact, basically what the primary Party shareholders said.

I would not expect Neteller to handle this transition in any way that might tarnish their reputation. There is alot of money moving around the world, look to Neteller to diversify their business.

[whangarei]

[ QUOTE ]
[ QUOTE ]
for those that understand the market better than i.

neteller should be looking for a buyer in a 'e-gambling welcome' country right now, right?

[/ QUOTE ]

Why?

I expect you will find that the large Neteller shareholders would all tell you that they would rather have Neteller profit from its non-US business operting legally, than have to deal with the litigation costs and reputation blow of operating illegally; even though that means lower revenue/profits.

This is in fact, basically what the primary Party shareholders said.

I would not expect Neteller to handle this transition in any way that might tarnish their reputation. There is alot of money moving around the world, look to Neteller to diversify their business.

[/ QUOTE ]

If a group of investors willing to operate out of Antigua, for example, offers to buy Neteller at a premium on their current stock price, Neteller shareholders will be happy. This conceivably shouldn't be too far-fetched considering how fall Neteller's stock has fallen since UIGEA.

[Sniper]

[ QUOTE ]
If a group of investors willing to operate out of Antigua, for example, offers to buy Neteller at a premium on their current stock price, Neteller shareholders will be happy. This conceivably shouldn't be too far-fetched considering how fall Neteller's stock has fallen since UIGEA.

[/ QUOTE ]

I do not believe you will find a group of investors willing to pay an appropriate price AND take on the risk, at this time.

There are going to be some interesting things that will happen over the next year... I do not believe that this is one of them.

[sublime]

[ QUOTE ]
[ QUOTE ]
for those that understand the market better than i.

neteller should be looking for a buyer in a 'e-gambling welcome' country right now, right?

[/ QUOTE ]

Why?

I expect you will find that the large Neteller shareholders would all tell you that they would rather have Neteller profit from its non-US business operting legally, than have to deal with the litigation costs and reputation blow of operating illegally; even though that means lower revenue/profits.

This is in fact, basically what the primary Party shareholders said.

I would not expect Neteller to handle this transition in any way that might tarnish their reputation. There is alot of money moving around the world, look to Neteller to diversify their business.

[/ QUOTE ]

party poopa! [img]/images/graemlins/frown.gif[/img]

[Sniper]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
for those that understand the market better than i.

neteller should be looking for a buyer in a 'e-gambling welcome' country right now, right?

[/ QUOTE ]

Why?

I expect you will find that the large Neteller shareholders would all tell you that they would rather have Neteller profit from its non-US business operting legally, than have to deal with the litigation costs and reputation blow of operating illegally; even though that means lower revenue/profits.

This is in fact, basically what the primary Party shareholders said.

I would not expect Neteller to handle this transition in any way that might tarnish their reputation. There is alot of money moving around the world, look to Neteller to diversify their business.

[/ QUOTE ]

party poopa! [img]/images/graemlins/frown.gif[/img]

[/ QUOTE ]

Sublime,

As a poker player, I think like you, that I would like nothing better than for Neteller to operate outside the law.

However, from a business/market perspective, I just don't see them going that way... and they are making it pretty clear that is not their intent.

It will all come down to exactly what the Regs say must be done.

In an interesting twist, if the regs for example, say that financial instititutions only need worry about Direct transfers, the primary institution with responsibility to take action may be Neteller [img]/images/graemlins/wink.gif[/img]

[OnePatheticLoser]

I havent signed into my neteller account for a while but i decided to today and noticed they had a new privacy policy. This was probably already talked about and i apologize if it has (tried to search for it), but I was wondering if this information is new to neteller's privacy policy and what exactly it means: "NETELLER will not sell or rent any of your personal information to third parties.
NETELLER will not share any of your personal information with third parties except in the limited circumstances described below, or as required or permitted by applicable law, or with your express permission. These third parties, where possible, are limited by law or by contract from using personally identifiable information for secondary purposes beyond the purposes for which the information is shared....
....We disclose personal information to government agencies, court or law enforcement personnel in response to applicable legislation or regulations, or to any subpoena, warrant, court order, levy, attachment, order of a court-appointed receiver or other comparable legal process, including subpoenas from private parties in a civil action. We reserve the right to cooperate with legal authorities having actual or potential jurisdiction over us." -new neteller privacy policy
So my question regarding this policy is does this mean that all of our transactions will be monitored by the U.S. Government? Or does it just mean Neteller won't stop them if they want any of our transaction information? I mean this has to be our right to privacy right or is it public information to the Government if they want it?

[whangarei]

Uber-late response but this thread just got bumped so ...

[ QUOTE ]
I do not believe you will find a group of investors willing to pay an appropriate price AND take on the risk, at this time.

[/ QUOTE ]

I couldn't imagine paying an appropriate price would be an issue. Didn't Neteller share price drop some 2/3 because of UIGEA? So, say it started at 100, and now is at 40. If US business was 75% of Neteller's profits, then prior to UIGEA this was valued at 75. So current price of 40, value of 75, there is a lot of room in the middle to make both new buyer and current investors happy.

[ QUOTE ]
There are going to be some interesting things that will happen over the next year... I do not believe that this is one of them.

[/ QUOTE ]

Do you have any thoughts on what some of these interesting things might be?

[Sniper]

[ QUOTE ]
So my question regarding this policy is does this mean that all of our transactions will be monitored by the U.S. Government? Or does it just mean Neteller won't stop them if they want any of our transaction information? I mean this has to be our right to privacy right or is it public information to the Government if they want it?

[/ QUOTE ]

It means that if Neteller is asked to provide information... it WILL be provided.

[scraggs]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
for those that understand the market better than i.

neteller should be looking for a buyer in a 'e-gambling welcome' country right now, right?

[/ QUOTE ]

Why?

I expect you will find that the large Neteller shareholders would all tell you that they would rather have Neteller profit from its non-US business operting legally, than have to deal with the litigation costs and reputation blow of operating illegally; even though that means lower revenue/profits.

This is in fact, basically what the primary Party shareholders said.

I would not expect Neteller to handle this transition in any way that might tarnish their reputation. There is alot of money moving around the world, look to Neteller to diversify their business.

[/ QUOTE ]

party poopa! [img]/images/graemlins/frown.gif[/img]

[/ QUOTE ]

[permafrost]

[ QUOTE ]
all the statute says is that the Fed must draft regulations

[/ QUOTE ]

Actually, the Treasury Dept. Secretary, the Federal reserve, and the Attorney General will prescribe regulations.

Those regulations would not apply to Neteller (or a US bank's dealings with Neteller) unless Neteller volunteers to follow them, which they say will happen (worried about aiding and abetting?). I don't think the regulations of 5364 can be written to prevent anything more than a 'restricted' transaction.