To ensure that irresponsible corporate executives, rather than shareholders, pay fines and penalties.
Corporate Management Accountability Act of 2019
This bill directs the Securities and Exchange Commission to promulgate final rules requiring certain issuers of securities to disclose whether the issuer has established procedures to recoup from compensation paid to its executive officers fines and penalties for illegal behavior. If the issuer has not established such procedures, it must explain why such procedures are not necessary for the benefit of its shareholders.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3658)
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 22.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-337.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-337.
Placed on the Union Calendar, Calendar No. 268.
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