#aad? ,,congress #b;d ,session ,h4 ,r4 #bceg ,,an ,,act ,to direct ! ,securities & ,ex*ange ,commission to revise ,=m ,s-#c s z to add li/+ & regi/ration ( a class ( common equity securities on a national securities ex*ange z an additional basis = satisfy+ ! requirem5ts ( ,g5]al ,in/ruction ,i4,b4#a4 ( su* =m & to remove su* li/+ & regi/ration z a requirem5t ( ,g5]al ,in/ruction ,i4,b4#f4 ( su* =m4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,accel]at+ ,access to ,capital ,act ( #bjaf4 ,i ,accel]at+ ,access to ,capital #aja4 ,exp&$ eligibility = use ( ,=m ,s-#c ,n lat] ?an #de days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,securities & ,ex*ange ,commission %all revise ,=m ,s-#c-- 7#a7 s z to p]mit securities to be regi/]$ pursuant to ,g5]al ,in/ruction ,i4,b4#a4 ( su* =m provid$ t ei!r-- 7,a7 ! aggregate m>ket value ( ! vot+ & non-vot+ common equity held by non-affiliates ( ! regi/rant is #ge1jjj1jjj or m2 or 7,b7 ! regi/rant has at lea/ "o class ( common equity securities li/$ & regi/]$ on a national securities ex*ange2 & 7#b7 s z to remove ! requirem5t ( p>agraph 7c7 f ,g5]al ,in/ruction ,i4,b4#f4 ( su* =m4 ,,ii ,micro-(f]+ ,safe ,h>bor #bja4 ,exemptions = micro-(f]+s 7a7 ,9 g5]al ,section #d ( ! ,securities ,act ( #aicc 7#ae ,u4,s4,c4 #gg;d7 is am5d$-- 7#a7 9 subsection 7a71 by add+ at ! end ! foll[+3 7#h7 transactions meet+ ! requirem5ts ( subsection 7f74 2 & 7#b7 by add+ at ! end ! foll[+3 7f7 ,c]ta9 micro-,(f]+s 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 ! transactions ref]r$ to 9 subsection 7a77#h7 are transactions involv+ ! sale ( securities by an issu] 7includ+ all entities controll$ by or "u common control ) ! issu]7 t meet all ( ! foll[+ requirem5ts3 7,a7 ,pre-exi/+ relation%ip ,ea* pur*as] has a sub/antive pre-exi/+ relation%ip ) an (fic] ( ! issu]1 a director ( ! issu]1 or a %>ehold] hold+ #aj p]c5t or m ( ! %>es ( ! issu]4 7,b7 #ce or few] pur*as]s ,!re are no m ?an1 or ! issu] reasonably believes t !re are no m ?an1 #ce pur*as]s ( securities f ! issu] t are sold 9 reliance on ! exemption provid$ "u subsection 7a77#h7 dur+ ! #ab-mon? p]iod prec$+ su* transaction4 7,c7 ,small (f]+ am\nt ,! aggregate am\nt ( all securities sold by ! issu]1 includ+ any am\nt sold 9 reliance on ! exemption provid$ "u subsection 7a77#h71 dur+ ! #ab-mon? p]iod prec$+ su* transaction1 does n exce$ #ejj1jjj4 7#b7 ,disqualification 7,a7 ,9 g5]al ,! exemption provid$ "u subsection 7a77#h7 %all n be available = a transaction involv+ a sale ( securities if any p]son describ$ 9 subp>agraph 7,b7 w\ld h trigg]$ disqualification pursuant to section #bcj4ejf7;d7 ( title #ag1 ,code ( ,f$]al ,regulations4 7,b7 ,p]sons describ$ ,! p]sons describ$ 9 ?is subp>agraph are ! foll[+3 7i7 ,! issu]4 7ii7 ,any pr$ecessor ( ! issu]4 7iii7 ,any affiliat$ issu]4 7iv7 ,any director1 executive (fic]1 o!r (fic] p>ticipat+ 9 ! (f]+1 g5]al p>tn]1 or manag+ memb] ( ! issu]4 7v7 ,any b5eficial own] ( #bj p]c5t or m ( ! issu]'s out/&+ vot+ equity securities1 calculat$ on ! basis ( vot+ p[]4 7vi7 ,any promot] connect$ ) ! issu] 9 any capacity at ! "t ( su* sale4 7vii7 ,any inve/m5t manag] ( an issu] t is a pool$ inve/m5t fund4 7viii7 ,any p]son t has be5 or w be paid 7directly or indirectly7 remun]ation = solicitation ( pur*as]s 9 connection ) su* sale ( securities4 7ix7 ,any g5]al p>tn] or manag+ memb] ( any su* inve/m5t manag] or solicitor4 7x7 ,any director1 executive (fic]1 or o!r (fic] p>ticipat+ 9 ! (f]+ ( any su* inve/m5t manag] or solicitor or g5]al p>tn] or manag+ memb] ( su* inve/m5t manag] or solicitor4 4 7b7 ,exemption "u ,/ate regulations ,section #ah7;b77#d7 ( ! ,securities ,act ( #aicc 7#ae ,u4,s4,c4 #ggr7b77#d77 is am5d$-- 7#a7 9 subp>agraph 7,f71 by /rik+ or at ! end2 7#b7 9 subp>agraph 7,g71 by /rik+ ! p]iod & ins]t+ 2 or2 & 7#c7 by add+ at ! end ! foll[+3 7,h7 section #d7;a77#h74 4 ,,iii ,private ,placem5t ,improvem5t #cja4 ,revisions to ,,sec ,regulation ,d ,n lat] ?an #de days foll[+ ! date ( ! enactm5t ( ?is ,act1 ! ,securities & ,ex*ange ,commission %all revise ,regulation ,d 7#ag ,,cfr #eja et seq47 9 accordance ) ! foll[+3 7#a7 ,! ,commission %all revise ,=m ,d fil+ requirem5ts to require an issu] (f]+ or sell+ securities 9 reliance on an exemption provid$ "u ,rule #ejf ( ,regulation ,d to file ) ! ,commission a s+le notice ( sales conta9+ ! in=mation requir$ by ,=m ,d = ea* new (f]+ ( securities no e>li] ?an #ae days aft] ! date ( ! fir/ sale ( securities 9 ! (f]+4 ,! ,commission %all n require su* an issu] to file any notice ( sales conta9+ ! in=mation requir$ by ,=m ,d except = ! s+le notice describ$ 9 ! previ\s s5t5ce4 7#b7 ,! ,commission %all make ! in=mation conta9$ 9 ea* ,=m ,d fil+ available to ! securities commission 7or any ag5cy or (fice p]=m+ l functions7 ( ea* ,/ate & t]ritory ( ! ,unit$ ,/ates & ! ,di/rict ( ,columbia4 7#c7 ,! ,commission %all n condition ! availability ( any exemption = an issu] "u ,rule #ejf ( ,regulation ,d 7#ag ,,cfr #bcj4ejf7 on ! issu]'s or any o!r p]son's fil+ ) ! ,commission ( a ,=m ,d or any simil> report4 7#d7 ,! ,commission %all n require issu]s to submit writt5 g5]al solicitation mat]ials to ! ,commission 9 connection ) a ,rule #ejf7;c7 (f]+1 except :5 ! ,commission reque/s su* mat]ials pursuant to ! ,commission's au?ority "u section #h;,a or section #bj ( ! ,securities ,act ( #aicc 7#ae ,u4,s4,c4 #gg;h-#a or #ggt7 or section #i1 #aj7;b71 #ba;,a1 #ba;,b1 or #ba;,c ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;i1 #gh;j7b71 #ghu-#a1 #ghu-#b1 or #ghu-#c74 7#e7 ,! ,commission %all n ext5d ! requirem5ts conta9$ 9 ,rule #aef to private funds4 7#f7 ,! ,commission %all revise ,rule #eja7;a7 ( ,regulation ,d to provide t a p]son :o is a kn[l$geable employee ( a private fund or ! fund's inve/m5t advis]1 z def9$ 9 ,rule #c;c-#e7;a77#d7 7#ag ,,cfr #bgj4c;c-#e7;a77#d771 %all be an accr$it$ inve/or = purposes ( a ,rule #ejf (f]+ ( a private fund ) respect to :i* ! p]son is a kn[l$geable employee4 ,pass$ ! ,h\se ( ,repres5tatives ,septemb] #h1 #bjaf4;,cl]k4