August 25, 2013
As CEO and co-founder of a startup, where raising funds is an essential and ever more difficult part of the job, I would have expected the SEC to make life simpler and not pile more bureaucratic hurdles in the path of the entrepreneur.
The automatic one year penalty is totally crazy. I can see one making some typo mistakes or not filling the forms correctly and instead of concentrating on making the venture successful, the entrepreneur will be buried under a correspondence with the SEC sub committee for this and that.
Is is a great way to create more jobs in the SEC, so it might be a great idea after all.