I guess the judiciary system will eventually rule on what is legal / not legal via a legal contest, but courts are not actively informing and guiding American companies on what the rules are.
Seems like there should be an agency that does? Furthermore, the SEC does seem to fulfill some of this role, ie. registering securities.
Guess that's how the world works then; do something until the government sues you, go to court and set precedent. Seems a bit inefficient. Or maybe its the most efficient path after all.
Which government agency fulfills that role?