August 18, 2013
Please don't amend Reg D and Form D and make life more difficult for startups to raise money. This is contrary to what Congress intended in the JOBS Act. The whole point of the JOBS Act was to make it easier for startups to raise money, not harder.
We don't want new filing requirements. Congress didn't specify any in the JOBS Act. Or request that you add new filing requirements. Why are you?
We don't want penalties for late filings. There are none now. Congress never said in the JOBS Act to impose any. Why are you now?
We don't want to have to complete more paperwork to raise money. Requiring more information on Form D is also something that is specifically contrary to the intentions and spirit of the JOBS Act.
We don't want to have to file forms in advance of generally soliciting. Congress didn't specify this. Why are you?
It is already very difficult for startups to raise funds. Please don't harm us by making it even harder.
Sincerely,
James Sposto