The Stock Act is currently being debated in the United States Senate. Several good amendments will be offered on the Senate floor, including an important one by Senator Thune (Amendment #1477), which addresses a timely and critical challenge for America's entrepreneurs - access to capital.
Amendment #1477, otherwise known as the "Access to Capital for Job Creators Act," will widen the pool of potential funders for entrepreneurs. By lifting the antiquated and onerous "solicitation prohibition" contained in Rule 506 of Regulation D of the Securities Act of 1933, promising enterprises can approach "accredited" investors outside of their personal networks to seek and secure the capital they need to compete and grow. This rule modification is a sensible reform step as proven by the lopsided vote the "Access to Capital for Job Creators Act" companion bill received in the House.
SBE Council has urged all Senators to support #1477, and you can read our letter here.
Karen Kerrigan, President & CEO