August 21, 2014
Hi SEC rule makers,
I'm not sure why it has taken 500 days to create the rules. I'm going to assume there are accredited investors who are lobbying the delay because they don't want non-accredited investors to start eating some of their apple pie. I am a non-accredited investor and I want to protect myself from making bad investments, which I know is one of the objectives of the rules. I'd like to make a small suggestion for the rules to help protect the non-accredited investors such as myself from losing too much of their assets. For single individuals, they cannot invest more than 15% of their annual income as shown on their W-2 forms (gross, before tax). For married couples, it would be 15% of the household annual income. You can adjust this down to 10% or up to 20% based on empirical evidence that the investor did not suffer hardships from losing too much or missed out on too many opportunities.
Please don't delay the rules any more.
Thanks,
Mohamed