Local Tech Wire and Wire Reports

WASHINGTON, D.C. – The U.S. Senate approved an amendment to the Restoring American Financial Stability Act of 2010 that is specifically geared toward angel investors on Tuesday.

The amendment, sponsored by Sen. Christopher "Kit" Bond and co-sponsored by a bi-partisan group of 10 additional senators, will ensure high-growth entrepreneurs continue to have access to a strong pool of angel capital and that investors are better protected from fraud, according to the

The amendment addresses two of the original sections that had the potential of significantly reducing the number of accredited angel investors and creating complicated and potentially expensive regulations for entrepreneurs raising angel financing.

LTW Editor Rick Smith has covered this story in-depth in The Skinny.

"We are very pleased that this amendment was adopted," said Liddy Karter, chairman of the ACA public policy committee and a founder of the Angel Investor Forum of Connecticut. "It ensures that entrepreneurs will more easily be able to raise angel capital and more accredited investors can continue making the angel investments they love to make."

Amendment #4056 was sponsored by Sen. Bond as well as Sen. Chris Dodd (D-CT), Sen. Mark Warner (D-VA), Sen. Scott Brown (R-MA), Sen. Maria Cantwell (D-WA), Sen. Mark Begich (D-AK), Sen. Patty Murray (D-WA), Sen. Bob Corker (R-TN), Sen. Jon Tester (D-MT), Sen. Sam Brownback (R-KS), Sen. Max Baucus (D-MT), and Sen. Harry Reid (D-NV).

The ACA is the trade association of leading angel investment groups in North America.

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