This has been bugging me to no end.
Investors require personal information of the business during IPO.. If the business is in the US, then it is already breaking the SEC laws. Do investors know this?
Many of us aren't in the US. Those that are in the US are seeking ways of compliance with the SEC laws.
I wrote a blog post on this to answer your question.I read your blog post. That doesn't answer the question regarding the laws in the US.