Yes Angels, Congress Is Listening

Don't worry angels, the Senate Banking Committee hears your angst. Beginning a few weeks ago, there's been a lot of digital ink spilt over how Chris Dodd's financial reform package could make life more difficult for early-stage investors and early-stage companies (including by yours tuly). Specifically, the bill would repeal the federal preemption for Regulation D filings, while also opening the door for a doubling of the accredited investor thresholds. So I spoke yesterday to a Senate Banking Committee source, who told me: "The original intent of these provisions was to enhance consumer protections. We are seriously considering the concerns brought to us in recent days."

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