Summary: H.R.2940 — 112th Congress (2011-2012)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Passed House amended (11/03/2011)

(This measure has not been amended since it was reported by the House on October 31, 2011. The summary of that version is repeated here.)

Access to Capital for Job Creators Act - Amends the Securities Act of 1933 to exempt from specified prohibitions relating to interstate commerce and the mails any transactions by an issuer that do not involve a public offering (as under current law), whether or not such transactions involve general solicitation or general advertising.

Directs the Securities and Exchange Commission (SEC) to revise rules governing an exemption from public offering requirements for limited offers and sales without regard to the dollar amount of the offering (Regulation D), so as to provide that a specified prohibition against general solicitation or general advertising does not apply to offers and sales of securities made pursuant to Regulation D if all purchasers of the securities are accredited investors. Requires such rules to require the issuer to take reasonable steps to verify that purchasers of the securities are accredited investors, using methods determined by the SEC.