September 23, 2013
I'm writing to express my concern regarding the proposed rules regarding the JOBS act's General Solicitation requirements.
I'm extremely concerned regarding the 1-year penalty, barring startups from fund-raising if they fail to comply.
I'm concerned regarding the filing requirements, for general solicitation, and requiring startups to provide legal boilerplate whenever they talk about their fund-raising.
The inability of startups to use 3rd parties to assist them in filing forms with the SEC digitally via computerized API is a concern.
The Jobs Act was intended to allow the free-flow of capital to those desiring to raise money for their venture and citizens the opportunities for investment.
My startup is struggling, and the JOBS Act is scaring away the investors I am talking with. Now how I talk with additional investors is hampered. I dont think that was the spirit of the JOBS Act, or what Congress got credit for with voters.
Please return to the original intention of the Act, it is the right thing for the job creation engine of our precarious economy (and my business).
Mary Baker Anderson