January 8, 2020
This rule change is overdue The deck has always been stacked against the small investor buying IPOs. Only very wealthy individuals have brains enough to understand the Red Herring prospectus? Who does the SEC think they were protecting? They were protecting millionaires not the small investor. Pretty soon with the block-chain companies will be bypassing the Wall Street brokerage house. It is about time this monopoly is ended. Level the playing field-small investors can protect themselves and with proper position sizing they will not get hurt if the IPO goes south. Some small investors have joined together and obtained access to IPOs from an "Accredited investor". That investor then buys the IPO,takes his share and splits the profits with the small cadre he/she put together.
Do the right thing and level the playing field. Accredited investors do not need your help-the small folks will benefit.
Thanks for your serious consideration.