Subject: File No. S7-06-13
From: Chuck McCoy
Affiliation: North Texas Angel Network

September 21, 2013

It is impossible to regulate any business without imposing unintended cost on them. The startup business of America will be harmed in many ways as you begin to try and help them raise capital. The SEC has no experience whatsoever dealing with companies that have no employees, no customers, no accountant, no lawyer on retainer. You should attempt to do as little harm as possible to these companies.

What the well paid and expensively educated staff in Washington DC thinks is "only a little" expensive have never thought about it like a founder that sold their car to make payroll. Your proposed changes to Reg D will impose such a cost burden on these hard working people.

Your own comments say the Reg D changes are for your own benefit so you can better understand the market. Impose costs on American startups so you can understand them better? Government here to help again?

Please only require what is necessary to help the entrepreneurs.