July 11, 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.
While I understand that the purpose of the rule change is intended to be “protective” of investors, I believe that the caveats connected with investing as an angel, as they are already in force, are more than enough to help an individual decide whether or not an angel investment is the right thing for that individual.
Sincerely,
Bill Stafford
Milwaukee, WI