Discussion about AMC worth watching

[Carnivore]

i think as long as there is a platform that conforms to Dodd-Frank it doesn't need congress approval.

well that is true but only that the regulated entity remains accountable. In other words, the law governs the responsible party, not the technology they use. legally responsible “party” under Dod ‑Frank and state AMC laws does not even have to be a human being. It can be a corporation i,e AMC Clown Act, inc

Some appraisers are an LLC even though they carry E& O The appraiser is still responsible, The LLC just protects the Appraisers

assets
Back to the AMC :

• he individual listed as the AMC’s controlling person or compliance officer is the one who answers to regulators if the AMC violates Dodd‑Frank, AIR, or state AMC laws.
• That person is responsible for ensuring independence, proper appraiser selection, recordkeeping, and compliance.

The AMC’s “bigshot” is responsible for the AMC’s conduct, and the appraiser is responsible for the appraisal.