On September 23, 2013, the SEC lifted the ban on general solicitation for startups raising money from angel investors under Regulation D Rule 506(c). This may seem like a good thing, but the devil is certainly in the details. The proposed rules could be cumbersome and costly for entrepreneurs and angel investors to comply with. If passed, the proposed SEC regulations may be a HUGE THREAT to angel investing and entrepreneurship.
If you care anything about angel investing or entrepreneurship, SUBMIT A COMMENT (see details below). The comment period will only be open until 10/23, so please hurry!!!
Here are a few resources to help you submit a comment to discourage the SEC from passing the proposed rules:
- See these directions to submit a comment and a link to submit the comment
- If you are an angel investor, the Angel Capital Association has put together an easy template to help you comment. (NOTE: the link to the comment page in this pdf is broken, so use this link to actually submit a comment.)
- Again, here is the link to submit a comment. Seriously, DO IT!!
- If you’d like to learn more about the proposed SEC regulations, see:
-This awesome JOBS ACT resource page from the Angel Capital Association
-This great slide presentation (scroll down and see “Crowdfunding Presentation” on his LinkedIn page) from lawyer, Chris Hazlitt from Bryan Cave, LLP.
- Subscribe to our blog to stay updated. We had a great event on this topic with Chris Hazlitt from Bryan Cave LLP and Kevin Gile from Anton Collins Mitchell yesterday and we’ll be sharing our lessons learned very soon.