July 10, 2014
I agree with the comment submitted by Kiran Lingam at SeedInvest on July 8, 2014 available at http://www.sec.gov/comments/s7-06-13/s70613-546.pdf that raising the accredited investor thresholds would be disastrous for startups, job creation and the U.S. economy. I believe the SEC should refrain from increasing these thresholds and should also adopt knowledge/experience based standards for an individual to become an accredited investor.
In addition to the negative impact on the startups, job creation and the U.S. economy, increased thresholds will restrict private investors who currently qualify as accredited investors but will fall below the proposed thresholds. Private investors under the current accredited investor definition should not have their freedoms limited!