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| Reforming angels? Posted by Merlin Jetton on 5/07, 6:59am | ||
| Startups had nothing to do with "The Great Recession." This doesn't keep Sen. Christopher Dodd from trying to put his claws on startups via the proposed financial reform bill. He proposes to add more bureaucratic red tape on startups with financing by angel investors. There is a link to the proposed bill here. The part of the bill changing the meaning of an "accredited investor" was easy to find. However, the 120 day waiting period for the SEC to review a filing for an exemption is in a section titled "Authority of State regulators over Regulation D offerings." Regulation D makes exemptions for filing with the SEC. How the SEC and state rules fit together is far from clear to me. There is a summary of the bill here. There is nothing in it to reform Fannie Mae or Freddie Mac. | ||
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