The legal difference: Stock promotion vs. Pump and dump?

I was wondering what the exact difference is between legal stock promotion (as occurs often in the financial world) and what the now closed awesomepennystocks.com subscription service did?

http://www.bloomberg.com/news/2014-...-26-year-old-tied-to-penny-stock-website.html

 

A good start would be a licensed analyst and ownership/conflict of interest disclosure.

 

that you can go to jail for the latter.

Mozillo made 10 times what this kid made and walked away scott free.

 

But Mozillo had a tan. =)

 

Good question indeed.

Also what is different about IPOs, brokerages selling stocks they own to their clients and several other such activities.

Is it just who is sanctioned by having a license to engage in these activities? (Should counter-fiat-ers should make a claim that they are just stimulating the economy through QE?)

Should the defense be that they were simply providing liquidity?