The reality is there there are some totally legitimate companies looking to raise capital, and they hire outside parties to help them do that. That's what the capital markets are for, and there is absolutely nothing wrong with it. A consequence of that system of free enterprise is inevitable bad apples that will take advantage and try to put the screws to anyone or everyone. That happens in all areas of commerce, not just the capital markets. To be clear, I'm not saying it is the promoters who are the bad apples - in most cases it is the companies that hire them. However, those promoters failing to properly disclose can and should be painted with the same bad brush as far as I'm concerned.
Stock promoters (and according to some, alleged stock "bashers") have legal requirements to disclose. While we are not an extension of regulatory agencies, the abuses have gotten so out of hand and we believe we should at least try to be part of the solution to that problem.
True, some still will not disclose. Some companies market medical or health care products without getting the proper approvals. Sometimes they are caught, sometimes not. Woe be unto them when the law does catch up to them. One thing this effort will hopefully do, if implemented, is to either get the non-disclosers to disclose, or if not help to bring the spotlight to bear on them so that regulators and law enforcement with clout can put the hammer to them.