Today the SEC once again delayed their deadline for the "removal of bans" on soliciting accredited investors under Reg D/506, and that has a lot of people steaming that such inaction is a harbinger of much greater delays for the highly anticipated Investment Crowdfunding Proposed Rules.
I have a tendency to agree. And it is alarming. (I have been a defender of the SEC, much to some people's chagrin.... see below) but that is wearing thin. But even then, regardless of the SEC, the investment crowdfunding industry has other concerns, perhaps larger that the SEC's foot dragging: FINRA and the NASAA.
I put before you an exchange that happened over on our Facebook page (www.facebook.com/NLCFA) today. I am copying it verbatim:
Now, lest you wonder, I am aware many fellow members of the NLCFA may differ with me. I am very proud that we are a melting pot of ideas and points of view. But, regardless, I think we are truly saying much the same thing:
Government: Get off yer arses! Stop draggin' yer damn feet! (But oh yeah, get it right!)Yes?