S. 1912 · 115th Congress
Corporate Management Accountability Act of 2017
- Stage
- In committee
- Sponsor
- Jack Reed
- Introduced
- 2017-10-03
- Latest action
- 2017-10-03 · Introduced in Senate
Summary
Corporate Management Accountability Act of 2017
This bill directs the Securities and Exchange Commission to issue final rules to require each reporting company (i.e., an issuer with registered securities and reporting requirements under the Securities Exchange Act of 1934) to disclose whether such company has established procedures to recoup from compensation paid to its executive officers fines and penalties for illegal behavior. If the reporting company has not established such procedures, it must explain why not having such procedures is necessary for the benefit of its shareholders.