March 14, 2011
I do not think we should be loosening the requirements for the sales of securities. There are already to many methods used by unscrupulous stock promoters to bypass registration requirements. The use of S-8 stock is but one example. Registrations provide some assistance to the public in their ability to find current information on companies. While the registration process is not the perfect method to prevent fraud it does help to reduce the instances where those that would like to take advantage of the system decide not to.
Regarding reporting requirements for small businesses I think it is important to achieve a balance between reasonable requirements and those that are too costly and burdensome to smaller reporting companies. An example would be the XBRL reporting requirement. This should be optional for smaller reporting companies.