Subject: File No. S7-07-12
From: Gerald P Roston, PhD
Affiliation: Startup CEO consultant to high-tech startups

September 5, 2012

Sir or Madam:

Limiting the pool of investors to those who are accredited completely nullifies the entire value of this legislation. Startups already have unfettered access to accredited investors - the entire point of the legislation was to increase the size of the pool.

I urge you, in the strongest possible manner, to drop this onerous restriction. Yes, if the restriction is dropped, there is a potential for abuse and it would be necessary to put rules in place to mitigate those potential abuses. However, it is far more desirable to have more startups receiving funding (and creating jobs) with the potential for abuse than not having these deserving companies receiving funding from those who want to support them (but who do not meet the definition of accredited).