August 20, 2013
Banning entrepreneurs from applying for funding over a period of a year due to mistakes in applications is a harsh punishment.
I understand that the SEC wants to minimize the workload from spammy business people. But the fact is honest entrepreneurs make honest mistakes when they are excited about starting a company.
Please consider taking a more gradual approach to the banning that would give offenders a couple of strikes/warnings or a gradual time period such as 1 month for first error, 3 months for second, etc.