I am excited to join this group. I am the author of the two EthNews pieces that @davids shared a couple days ago, and am looking forward to looking through this thread to see how you all have dissected the relevant issues. If you would like, I am happy to provide input on your work as it manifests.
I am doing a longer blog-piece right now examining each of the various methods that have been employed so far in ITOs in their efforts for compliance. I am gathering a list of compliance techniques ITOs have used to minimize the risks @BernardLunn identified (eg token caps, reverse dutch auctions, accredited investor approval to meet JOBS Act and Reg D exemptions, Coinbase's proposed holistic framework, SAFT, etc) and analyzing their effectiveness, ideally creating one shareable document of various techniques and of their success as a single resource. There will also be an analysis of how these techniques comply with the US SEC record and mission, but I hope that the piece will be useful in other countries as well. The purpose of the piece isn't to suggest a model code of conduct as I understand you all are, as much as to aid in efforts like yours to create one or to help other attorneys and advisers in making their own decisions on how to counsel clients. I will be scrolling through to catch up with the discussion so far, but I appreciate any other thoughts or input you all might have for this document.
In the meantime, please feel free to add me on LinkedIn and/or follow me on Twitter for new blockchain law articles I post in EthNews or elsewhere, and to generally to establish a line of communication if you would either like my input on something or if you know of an issue or event that I or one of my publications might be interested in reporting.
FYI, I also have published articles regarding the upcoming change to Deleware law enabling DLT-enabled share/stock issuance and management (http://bit.ly/2oJX3si), and a piece summarizing the American Bar Association's day-long event on the current status of blockchain law in the US, covering issues like tax, securities, intellectual property, and other emerging legal areas as they relate to DLTs (http://bit.ly/2oA4xgg).
Good to meet you all and I am glad to see this kind of discussion occurring online.