Subject: File No. S7-06-13
From: Marcie Barnes
Affiliation: CEO, Spherre, Inc.

August 20, 2013

The proposed new rules arent good for startups or the effort to create a strong economy in America. We need to be competitive on a global basis and these rules will completely stymie the efforts of most entrepreneurs who require non-traditional financing to get their ideas realized. Please do not make it more difficult for startups to get financing, it's not all that easy now and there are already plenty of legal procedures in place that protect both sides.