Chair Gensler is too busy trying to change the SEC into the, 'Securities and Environment Commission,' rather than its capital formation and investor protection role.

The titles of the hearings that we are holding today imply that every investor protection is a barrier.

According to the SEC's rulemaking agenda, Chairman Gensler intends to amend the accredited investor definition by increasing the annual-income and net-worth thresholds.

Ensuring people of color, women, and veterans have access to capital is a priority for me.

Just because you are rich, that does not mean that you are in a good position to evaluate investments.

The definition of a million dollars is a 1982 definition.

In the presence of good investor protection, you get more capital invested in the markets.

The fact is, we need the right blend of investor protection and securities regulation on the one hand, and access to capital and access to investments on the other.

We could do is change the definition of, 'accredited investor,' to the following standards: someone who is investing less than 5 percent of their net worth in a particular investment.

I think it is time for us to reevaluate the definition of an accredited investor and ensure that it serves its intended purpose of protecting investors rather than excluding them.

I welcome the efforts by our Chair and this subcommittee to enhance capital formation and remove roadblocks.

We need to have a democratized approach to this to benefit more people.