Jack Reed actually said...

"The other thing, obviously, as you emphasize in your testimony, is that with the lifting of the ban on general solicitation under Rule 506, there is an enhanced possibility of fraud."

"And that would probably be an area you would have to pay attention to."

"So there is a potential, you know, if we do not do something like this, have the Form D filed prior to the offering, that you just will not know what is going on."

"What we are working off is a basis of the--you know, there was a general rule of no public solicitation."