May 12, 2018
I am in support of amendments to Regulation D, Form D and Rule 156 under the Securities Act, where changes would enable more Americans to participate in supporting entrepreneurial activities and expanding their investment opportunities.
The accredited investor status requirements, as is currently stands, is extremely un-American, and "allows only the rich to get richer". America is known to the rest of the world as "land of opportunities" but the reality is nothing is further from the truth. There is much too much regulation and oversight.
Why shouldn't someone with a lesser net worth or income have the same opportunity to invest as anyone else? Giving preference to only those who already have high financial status to me is a form of discrimination.
Adding an additional component - financial education or investing experience (in lieu of a financial status requirement) would be a fair improvement. Those who have little or no background in investing may not make sound choices and I know your goal is to protect Americans from losing their hard earned money.
The current state of the accredited investor requirements, however, is extremely unjust and I hope you consider allowing investing experience and/or financial education as an alternative to meet accredited investor status.
Thank you