Shriram Bhashyam | September 30, 2013
The proposed amendments have generated a large amount of public interest. The Commission believes that providing the public additional time to consider thoroughly the matters addressed by the release and comments submitted to date and to submit comprehensive responses would benefit the Commission in its consideration of final rules.Note that the SEC is now seeking comments on the comments, in addition to comments on the proposed amendments. Reading the tea leaves, it looks like the SEC is heeding the input it has received from the startup community and is using the extension to obtain the time necessary to revise the proposals to find a better solution to monitor private placement fundraising, ensure investor protection, and facilitate capital formation. The comment period will be extended by an additional 30 days, and will close around the first week of November (exact date to be determined).
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