Speaking less as a former securities lawyer and more as a co-founder and the COO of Zaarly, Erik testified on Capitol Hill - again - last week. Again on the subject of barriers to entrepreneurs, and what Congress can do to rectify problems. Erik is squarely behind the reforms and new initiatives to make it easier for entrepreneurs and startups to raise money from new sources and in new ways. Some of what is making its way through the House, supported by the Obama administration, would, if passed by the Senate, significantly change the potential investor landscape for startups.
An objection you hear raised by some, and a concern you hear raised by many, is over how unsophisticated investors are to be protected in a new paradigm which combines (a) public offerings to non-accredited investors, and (b) federal preemption of state laws which have traditionally retained oversight of smaller offerings to the general public.
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