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Corporate Accountability: Executives Pay Fines, Not Shareholders.

This act aims to ensure that irresponsible corporate executives, rather than ordinary shareholders, bear the cost of fines and penalties. Companies will be required to disclose whether they have procedures to recoup these costs from executive compensation, potentially increasing transparency in corporate operations and protecting citizens' investments.
Key points
Public companies must disclose if they recoup fines and penalties from their executives' compensation.
If a company recoups fines, it must describe the procedures and disclose amounts recouped from each executive for the past three years.
If a company does not recoup fines, it must explain why, increasing transparency for shareholders and the public.
article Official text account_balance Process page
Expired
Citizen Poll
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Additional Information
Print number: 117_S_2145
Sponsor: Sen. Reed, Jack [D-RI]
Process start date: 2021-06-21
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Corporate Management Accountability Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2145.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-06-21.

What are the main provisions?

Key points include:

  • Public companies must disclose if they recoup fines and penalties from their executives' compensation.
  • If a company recoups fines, it must describe the procedures and disclose amounts recouped from each executive for the past three years.
  • If a company does not recoup fines, it must explain why, increasing transparency for shareholders and the public.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Reed, Jack [D-RI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy Courts and Law