[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2940 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2940

   To direct the Securities and Exchange Commission to eliminate the 
prohibition against general solicitation as a requirement for a certain 
                     exemption under Regulation D.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 15, 2011

  Mr. McCarthy of California introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To direct the Securities and Exchange Commission to eliminate the 
prohibition against general solicitation as a requirement for a certain 
                     exemption under Regulation D.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Access to Capital for Job Creators 
Act''.

SEC. 2. MODIFICATION OF EXEMPTION.

    Not later than 90 days after the date of the enactment of this Act, 
the Securities and Exchange Commission shall revise its rules issued in 
section 230.506 of title 17, Code of Federal Regulations, to provide 
that the prohibition against general solicitation or general 
advertising contained in section 230.502(c) of such title shall not 
apply to offers and sales of securities made pursuant to section 
230.506, provided that all purchasers of the securities are accredited 
investors.
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