• Trophy Hunting – I just don’t understand

    Like many animal lovers, my first reaction was outrage at the senseless death of Cecil the lion by Walter Palmer. I let my first draft post that reflected my outrage subside into thought – I just couldn’t understand why a successful American dentist would feel the need to take the life of a beautiful African creature. Then I learned that

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  • Note to the SEC on Accredited Investor Definition

    8 June 2014   The Honorable Mary Jo White, Chairman US Securities and Exchange Commission 100 F St. NE Washington, DC  20549   RE:  Accredited Investor Definition   Dear Chairman White:   As a board member of the Angel Capital Association (ACA) and the Chair of the Seattle Alliance of Angels, I urge the Commission to protect angel funding to

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  • Comment to the SEC

    November 4, 2013 Elizabeth Murphy, Secretary U.S. Securities and Exchange Commission 100 F Street NE Washington, DC 20549   Re: File No. S7‐06‐13, Amendments to Regulation D, Form D and Rule 156 Dear Ms. Murphy: Thank you for the opportunity to provide comments to the Commission on your proposed amendments to Regulation D and Form D.  Many others have provided

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  • Why is the ACA making a big deal about the SEC proposed ruling?

    I am being asked, why is the SEC proposed ruling such a big issue? Unless you read the entire ruling and get to talk either directly or indirectly to SEC staff, it doesn’t seem like a big issue. Simply put, the proposed SEC ruling is (a) trying to fix a problem that doesn’t exist; (b) will increase risk in our

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  • Too Much Complexity, so Tell the SEC

    As a rule I live by, “if it ain’t broke, don’t fix it!” The new SEC rules violate that basic principle (see: http://www.startuplawblog.com/ or my previous posts). There is virtually no fraud in the Angel Investing asset class, but the SEC has decided to impose (without a Congressional mandate) stringent new rules that will cripple angel investing. Let me use

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