September 5, 2012
I wanted to thank you for everything related to
http://www.sec.gov/news/press/2012/2012-170.htm
Keeping the detail short:
SEC my request is as follows I hope you allow people who invest into the company to fill out a form stating they meet X guidelines, I hope you do not force the company to do diligence on the investment or investor. I suggest as part of 506 series D amendments that you provide a pre-made form ready to go for any business that wants to validate a investor. The form should be filled out and kept on file X number of years after the investment. This way if the SEC ever wants to audit a companies 506 series D offering all companies from this point forward should have a filled out form from every investor. This form should be constant and not left with any room for judgment. We have to many laws that leave room for judgment. Avoid this judgment effect and make it simple for us companies who want to offer 506 series D offerings.
Example case:
If X investor fills out the companies provided diligence form downloaded and provided from the SEC website, on being accredited that the company should not have to do research on that investor but rather take his signed and submitted letter of being accredited as justification.
Remember smaller companies lack resources and if you force the company to do the diligence on someone that wants to commit to he investment then it would only make this Jobs act go backwards along with america. You yourself stated that over 1 trillion was invested and if we can push this number forward, we all can benefit from this JOBS act.
Please consider this when placing final rulings on the 506 series D amendments.