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Corporate Management Accountability Act of 2021

12/31/2022, 5:26 AM

Congressional Summary of S 2145

Corporate Management Accountability Act of 2021

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 it has not done so.

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Current Status of Bill S 2145

Bill S 2145 is currently in the status of Bill Introduced since June 21, 2021. Bill S 2145 was introduced during Congress 117 and was introduced to the Senate on June 21, 2021.  Bill S 2145's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of April 26, 2022

Bipartisan Support of Bill S 2145

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 2145

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures
- Business records
- Civil actions and liability
- Corporate finance and management
- Securities
- Securities and Exchange Commission (SEC)
- Wages and earnings

Alternate Title(s) of Bill S 2145

A bill to ensure that irresponsible corporate executives, rather than shareholders, pay fines and penalties.
Corporate Management Accountability Act of 2021
Corporate Management Accountability Act of 2021

Comments

Sponsors and Cosponsors of S 2145

Jack Reed
Jack Reed
Rhode IslandDemocrat

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