S.1831 - Access to Capital for Job Creators Act112th Congress (2011-2012)
|Sponsor:||Sen. Thune, John [R-SD] (Introduced 11/09/2011)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||12/14/2011 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance and Investment. Hearings held. With printed Hearing: S.Hrg. 112-465. (All Actions)|
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Summary: S.1831 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (11/09/2011)
Access to Capital for Job Creators Act -Amends the Securities Act of 1933 to exempt from proscriptions governing interstate commerce and the mails those transactions by an issuer that do not involve a public offering, 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. Amends such revised rules to require that the issuer take reasonable steps to verify that purchasers of the securities are accredited investors, using such methods as are determined by the SEC.