Subject: File No. S7-07-12
From: anonymous anonymous

September 21, 2012

The SEC should lower the net worth and income thresholds required to be considered an accredited investor. Why is it that the "rich" are only allowed to invest in private securities offerings that are offered through general solicitation. The current laws discriminate against people who can't meet the income and net worth requirements and limits their investment choices.

The pundits, including some state securities regulators, say these laws protect investors and keep them from potentially risky investments. Anyone, accreditd or not, can invest their entire paycheck on lottery tickets, where they are almost certain to lose all of their money. Many states, whose securities regulators oppose the changes in the JOBS Act, sponsor these lotteries Any of these investors that are not accredited can speculate in "penny stocks", trade energy futures, buy lottery tickets, go to Vegas and other casinos, or find any number of other ways to gamble with their money. Why should these same investors, who are exposed to a potentially lucrative private investment offering by means of general soliciation, be prohibited from investing in that offering. It doesn't make sense Also, a private investment offering doesn't make an investment risky any more than registering a security makes it not risky. There are many conservative investment options that are only offered privately, without being registered.