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S. 1831 (112th): Access to Capital for Job Creators Act

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Nov 9, 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.