Subject: File No. S7-11-13
From: Donald R Hancock
Affiliation: CEO Moloney Securities Co., Inc.

February 20, 2014

We support the proposed guidelines for Regulation A, sometimes referred to as Regulation A+. We are in the process of a Reg A offering for an issuer that would like to be able to take advantage of the increased ceiling to 50 million per year. Not having to go to each state separately will streamline the process dramatically.

We believe that over time many current Reg D issuers will migrate to the Reg A+ space seeking a lower cost of capital in addition to offering a tradable non-restricted security.

As a small independent broker/dealer (150 Reps) we are always looking for ways to differentiate ourselves in the industry. We believe that offering a best practice Reg A+ platform will serve not only growing small businesses but also offer unique investment opportunities to our clients.