The regulations also will dramatically change the industry's business model, likely forcing many -- good and bad -- out of business.

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While the regulations for crowdfunding are still being shaped, the promise of this model is clear.

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In February 2012, the IRS issued proposed regulations implementing FATCA. Then, in July 2012, the Treasury Department released model agreements for information sharing.

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Since that day, more than a dozen other states have enacted their own laws or regulations requiring Frac fluid disclosure, and most have used HB 3328 as their model.

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Under the pilot program, Bloomberg will waive certain zoning regulations at a city-owned site to test the market for this new housing model.

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Since proposing regulations in February 2012, the U.S. Treasury has collaborated with foreign governments to develop model intergovernmental agreements that facilitate implementing FATCA. Norway has just joined the United Kingdom, Mexico, Denmark, Ireland, Switzerland, and Spain as countries that have signed or initialed model agreements.

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New regulations by the Securities and Exchange Commission are also prompting the need to move to a more electronic trading model.

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