While Bulletin Board companies are required to file quarterly and annual reports, proxies and insider trading information to the SEC, neither the NASD nor the SEC checks to make sure filings are factual, and there are no minimums.

FORBES: Magazine Article

As long as header information is properly encoded on individual MP3s (often not the case if you are trading tunes on Napster), the machine will automatically file music so you can retrieve it by artist, genre and album name.

CNN: All Music, All the Time

The Korea Stock Exchange's only sanction against companies which fail to file earnings statements and other price-sensitive information on time is to suspend trading in the transgressor's shares for one day.

ECONOMIST: Asia��s stockmarket nightmare

Even with a broadband connection and a sophisticated file-sharing schema like BitTorrent, illegally downloading and swapping movies is far more difficult than trading songs.

FORBES: Michael Noer On Digital Entertainment