But that’s legal theory, and the practicalities are that almost nothing bad happens to startups that fail to file a Form D. American courts, along with the SEC, have upheld that a startup does not lose its covered security exemption by failing to file the form. The only additional requirement is generally to file state security forms in lieu of the federal form.
中国人民政协理论研究会理事谈火生向南方周末记者解释，实践中只有把大方向拆分成小切口的子议题，才能对监督事项提出更具建设性、更可操作的建议，民主监督也才能真正发挥作用。，详情可参考PDF资料
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