Subject: File No. S7-09-13
From: leslie m lackman
Affiliation: Professor of Engineering UCLA

October 19, 2014

It has been over year since you circulated 2013-227 on Crowd funding. Isn 't it time to issue a policy. It is unbelievable , except for the coalition of VCs who do not want the policy so they can keep this mkt to them selves and who lock out those needing less than $1M that the SEC has not already implemented . When will you come out with a policy. As a taxpayer, I believe I am entitled to a status of your actions.
Thank you,
Prof Les Lackman