Many prominent companies and Regulation CF platforms have expressed concern over the limited amount of capital that issuers can raise under Reg CF: $1 million. On July 19, 2018, they sent a detailed letter to the SEC requesting that they raise the Reg CF cap to $20 million. In general, the Reg CF industry feels that the current $1 million cap is costing issuers time and money meeting regulatory requirements─they add that some issuers have to conduct a second offering to raise sufficient startup capital. This concern matches with SEC Chairman Jay Clayton’s remark concerning retail investors. Before the industry…