Ok Guys I spoke with Larry Walters yesterday afternoon and unfortunately he cannot/ will not issue a public assessment of the proposed new law. He cites the following reasons:
1. The impact of the law on each individual will vary dependant upon their circumstance and marketing techniques therefore a blanket statement will not provide adequate legal protection.
2. Larry is a firm supporter of client/attorney confidentiality. To provide legal advice in a public setting violates this tenent.
3. A public statement may reveal legal strategies or arguments he may eventually use in court to defend clients based upon the new laws and he has no desire to tip his cards to prosecutors.
Larry indicated he will consult with clients one on one and help you develop a game plan that will minimize your exposure moving forward. He also agreed to a group meeting if we can bring everyone who is interested together in one place and verify the identities of those in attendence. The logistics of this would obviously be very difficult to work out.
I mentioned that Nelson Rose had issued a statement/opinion and Larry was quick to point out that what Nelson Rose issued was an article and was NOT a legal briefing. Basing what you choose to do on that particular article is not a suitable replacement for actual legal advice with an attorney representing you. I agree with that assessment and will be having a consultation with Larry next week at his office to discuss my personal options.
I suggest everyone who intends to stay in this business secure competant legal counsel ASAP. Its MY opinion that its highly unlikely US affiliates will face CRIMINAL prosection, it does not appear that the new laws increase our exposure in that respect. What is likely though is that the VIABILITY of the business has changed dramatically and we will each have to assess wether it makes sense from a financial standpoint to invest heavily in moving servers, setting up offshore corporations and the like.
There is also a strong possibility that ISPs will be asked to block access to online gaming related content. If that occurs they will be legally compelled to comply. This will also effect the viability of our businesses and should not be taken lightly.