September 29, 2011
What next with regulations. Dodd-Frank will be repealed by the nest President and Thank God for some sanity. I think the SEC forgets we are a free enterprise capitalistic society and rule 506 was mean't to help enterprises solicit growth capital. The SEC is trying to impose a morals clause into who can do business in the USA. There are plenty of disclosure requirements in 506 as it stands right now. The SEC should realize that an accredited investor does not need the SEC to tell him or her how to invest or require an intermediary to satisfy an arbitrary morals clause that the SEC claims protects the public. This amendment will end being unconstitutional if it becomes law and gives businessmen like myself a reason to vote against any democrat who runs for office.